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Laub Realty Acquires Multifamily Property In Summit, NJ For $4.1M With Morgan Stanley Loan

150, 152, 154, 156, & 158 Broad Street
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This MultiFamily property located in NJ received a loan of $4,100,000 over 2 years ago. The broker of the deal was Brandon Harris

The multifamily property located at 150, 152, 154, 156, & 158 Broad Street in Summit, NJ, was involved in a closed transaction. The property spans across 12,830 Net Rentable Square Feet (NRSF) and consists of five townhomes with a total of ten units.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $4,100,000
  • Address: 150, 152, 154, 156, & 158 Broad Street, Summit, NJ
  • Market: Summit, NJ
  • Loan Type: Acquisition

The loan for this transaction was provided by Morgan Stanley. Laub Realty acted as the landlord in the deal. The brokerage services were represented by Brandon Harris from BlackBear Capital Partners.

The loan amount for the transaction was $4,100,000. The financing was structured as a 10-year non-recourse loan with full-term interest only payments at a fixed rate of 3.51%. The loan was utilized for the acquisition of the five townhomes, totaling ten units, spanning 12,830 NRSF.

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Deals
  • Location
    150 Broad Street, Summit, NJ, USA150 Broad Street, Summit, NJ, USA
  • Loan Value
    $4,100,000$4,100,000
  • Asset Type
    MultiFamilyMultiFamily
  • Parties
    1 Broker, 1 Agency, 1 Lender1 Broker, 1 Agency, 1 Lender

Agent

Brandon Harris

Brandon Harris

Deals48
Financed$622.5M

Agency

Black Bear Capital Partners

Black Bear Capital Partners

Agency
Deals294
Volume$6.3B

Morgan Stanley

Morgan Stanley

Lender
Deals70
Volume$ 208.8B

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Deal Summary

LOAN IMAGE: Brandon Harris DATE: 08/26/2021 ADDRESS: 150, 152, 154, 156, & 158 Broad Street MARKET: Summit, NJ ASSET TYPE: Multifamily SF: 12,830 NRSF LENDER: Morgan Stanley LANDLORD: Laub Realty BROKER: Brandon Harris - BlackBear Capital Partners (@BlackBearCapitalPartners) LOAN AMOUNT: $4,100,000 LOAN TERMS: The five (5) Townhomes totaling ten (10) units spanning 12,830 NRSF was financed with a 10-year non-recourse loan featuring full-term interest only payments at a fixed rate of 3.51%. LOAN TYPE: Acquisition

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150, 152, 154, 156, & 158 Broad Street

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