Laub Realty Acquires 33-Unit Multifamily Property In Bethlehem, PA With $5.9M Loan From PGIM
910 Fire Lane
$5,901,000
$590,100/SF
Building Size
10 SF
Asset Type
MultiFamily
Closing
Oct 31, 2023
AI
The multifamily property located at 910 Fire Lane in Bethlehem, PA has been acquired via a loan. The property comprises 33 units and is owned by Laub Realty.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $5,901,000
- Units: 33
- Lender: PGIM
- Landlord: Laub Realty
The loan used for the acquisition of this multifamily property was a 10-year non-recourse fixed rate loan provided by PGIM. The loan terms include full-term interest only payments.
The deal was brokered by Brandon Harris from Black Bear Capital Partners, representing Laub Realty in this transaction.
Players
Market MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.69%
Cash-on-Cash
-0.77%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93