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Khosla Capital Acquires 252-Unit Multifamily Property In Englewood, NJ For $81.9M Loan

100 Sterling Boulevard
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This MultiFamily property located in NJ received a loan of $81,900,000 over 2 years ago. The brokers of the deal were Zev Karpel and Judah Hammer

The multifamily property located at 100 Sterling Boulevard in Englewood, NJ has been involved in a recent transaction. The property consists of 252 units and has been acquired through an acquisition loan.

Summary of transation details

Zev Karpel and Judah Hammer from Meridian Capital Group represented the buyers in this transaction. The sellers, The S.Hekemian Group, successfully closed the deal with the help of the lending institutions, New York Community Bank and Harbor Group International. The loan amount of $81,900,000 was secured with a loan-to-cost ratio of 83 percent.

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Deals
  • Location
    100 Sterling Boulevard, Englewood, NJ 07631100 Sterling Boulevard, Englewood, NJ 07631
  • Loan Value
    $81,900,000$81,900,000
  • Asset Type
    MultiFamilyMultiFamily
  • Parties
    2 Brokers, 1 Agency, 2 Lenders2 Brokers, 1 Agency, 2 Lenders

Agents

Zev Karpel

Zev Karpel

Deals12
Financed$1.3B

Agency

Meridian Capital Group

Meridian Capital Group

Agency
Deals2414
Volume$65.9B

New York Community Bank

New York Community Bank

Lender
Deals87
Volume$ 316.6B

Harbor Group International

Harbor Group International

Lender
Deals8
Volume$ 21.5B

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Deal Summary

LOAN IMAGE: Zev Karpel & Judah Hammer DATE: 12/06/2021 ADDRESS: 100 Sterling Boulevard MARKET: Englewood, NJ ASSET TYPE: Multifamily ~ UNITS: 252 LENDER: New York Community Bank (NYCB) & Harbor Group International (HGI) LANDLORD: Khosla Capital - Raman Khosla & DKJ Equity BROKERS: Zev Karpel & Judah Hammer - Meridian Capital Group SELLER: The S.Hekemian Group LOAN AMOUNT: $81,900,000 LOAN TYPE: Acquisition LOAN TERMS: 10-year debt package was extended to the borrowers at an 83 percent loan-to-cost ratio

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100 Sterling Boulevard

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