Laub Realty Acquires Multifamily Property In Summit, NJ For $4.1M With Morgan Stanley Loan
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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
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- Location150 Broad Street, Summit, NJ, USA
- Loan Value$4,100,000
- Asset TypeMultiFamily
- Parties1 Broker, 1 Agency, 1 Lender
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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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