Gabriel Sultan Of Alto Capital Provides $22.4M Construction Loan For Luxury SFR Units In New Jersey
$22,402,183
$3,613/SF
Building Size
6,200 SF
Asset Type
Single Family Residence
Closing
Dec 23, 2024
AI
The asset involved in this transaction is a construction loan for the development of 12 luxury single-family residential units in Morganville, New Jersey. The total loan amount is $22,402,183. The loan is structured as a 24-month interest-only construction loan, supporting the project's funding for the development of high-end residential properties.
Summary of transaction details:
- Property Type: Single Family
- Transaction Amount: $22,402,183
- Loan Type: Construction
- Loan Terms: 24 months
- Lender: Gabriel Sultan - Alto Capital
- Market: New Jersey
- Asset Size: 74,000 SF
- Units: 12 luxury single-family residential (SFR) units
This transaction highlights the involvement of Gabriel Sultan from Alto Capital, who originated the financing for this development deal. Alto Capital is a nationwide lender specializing in fix and flips, ground-up construction, and planned unit development financing.
Players
Morganville Single Family Residence Market Snapshot
Boundary boundary · Single Family Residence · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.71%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93