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
$3,965,000
$233/SF
Building Size
16,993 SF
Asset Type
—
Closing
May 24, 2022
About this deal
AI
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
New York CRE Market Snapshot
Boundary boundary · CRE · Loan transactions
Loading comparables…
Deal FAQ
Visit Morris Dweck to view all their deals.
Browse New York loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.00%
Cash-on-Cash
-1.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93