Gabriel Sultan Of Alto Capital Provides $22.4M Construction Loan For Luxury SFR Units In New Jersey
FINANCED
$22,402,183
New Jersey
See Similar DealsSingle Family Residence6,200 SF
Financed 12/23/2024
FINANCED
Gabriel Sultan Of Alto Capital Provides $22.4M Construction Loan For Luxury SFR Units In New Jersey
Single Family Residence6,200 SF
Financed 12/23/2024
Summary
NEW JERSEY
Asset Type:Single Family Residence
Price Per Square Foot:$3,613
Total Square Footage:6,200 SF
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$22,402,183.00
Monthly NOI$149,347.89
Monthly Debt Service$141,597.04
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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