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Midtown Equities Secures $3.96M Acquisition Loan For Little Egg Harbor Medical Office With Rep Morris Dweck - KSR Capital

Property Image
FINANCED
$3,965,000

New York

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16,993 SF
Financed 05/25/2022
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Property Image
FINANCED

Midtown Equities Secures $3.96M Acquisition Loan For Little Egg Harbor Medical Office With Rep Morris Dweck - KSR Capital

798 Route 539 Little Egg Harbor, NJ 08087

See Similar Deals
16,993 SF
Financed 05/25/2022
the dealplayerscompscontact
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Summary

NEW YORK
Price Per Square Foot:$233
Total Square Footage:16,993 SF
Transaction Type:Loan

A medical office property located at 798 Country Route 539 in Little Egg Harbor, NJ has been involved in a recent transaction. The property spans approximately 16,993 square feet and is owned by Midtown Equities.

Summary of transaction details:

  • Property Type: Medical Office
  • Transaction Amount: $3,965,000
  • Loan Type: Acquisition
  • Loan Terms: 5 year term, 30 year amortization, 1 year interest-only
  • Loan Repayment: Non-recourse

Morris Dweck from KSR Capital represented the buyer in this acquisition deal. The loan amount of $3,965,000 was secured for the purchase of the medical office property. The loan has a 5-year term with a 30-year amortization schedule. The first year is interest-only. It is important to note that the loan is non-recourse, providing protection to the borrower.

Players

Morris Dweck
Kassin Sabbagh Realty
Morris Dweck
32 deals$382.3M volume(929) 353-1754
BROKER
Midtown Equities
Midtown Equities
LANDLORD

Details

FINANCED
IMAGE: Morris Dweck DATE: 05/25/2022 ADDRESS: 798 Country Route 539 MARKET: Little Egg Harbor, NJ ASSET TYPE: Medical Office ~ SF: 16,993 LANDLORD: Midtown Equities BROKER: Morris Dweck (@Morris__Dweck) - KSR Capital LOAN AMOUNT: $3,965,000 LOAN TYPE: Acquisition LOAN TERMS: 5 year term, 30 year amortization, 1 year IO, Non recourse

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$3,965,000.00

Monthly NOI$26,433.33
Monthly Debt Service$25,061.50
Change in Cash Flow$0.00
Refinance Proceeds$0.00