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923 Cedar Bridge

$970,000 Loan Secured For Retail Asset At 923 Cedar Bridge In Brick
FINANCEDRetail

$970,000 Loan Secured For Retail Asset At 923 Cedar Bridge In Brick

923 Cedar Bridge

$970,000

$115/SF

Building Size

8,400 SF

Asset Type

Retail

Closing

Nov 23, 2023

AI

The property asset involved in this transaction is a retail space located at 923 Cedar Bridge in Brick. The transaction was secured with a loan amount of $970,000.00.

Summary of transation details:

  • Property Type: Retail
  • Transaction Amount: $970,000.00
  • Address: 923 Cedar Bridge
  • Market: Brick
  • Loan Amount: $970,000.00
  • Broker: Michael J. Gefter

The transaction features Michael J. Gefter as the broker representative involved in facilitating the loan, ensuring that the transition of property ownership adheres to the necessary protocols and standards within the retail market in Brick.

Players

Michael Gefter

Wolf Investment Partners

Broker

$121.1M

vol

42 deals

Broker

Xauctic Car Spa

Buyer

$970K

vol

1 deal

Buyer

HAB Bank

Lender

$970K

vol

1 deal

Lender

Nav Singh

Landlord

$2.5M

vol

1 deal

Landlord

Brick Retail Market Snapshot

Boundary boundary · Retail · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

16.35%

Cash-on-Cash

-4.67%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93