FINANCED
NVN Properties Secures $8M Loan For Guttenberg Multifamily Development
6901-05 Madison Street
MultiFamily
1,440 SF
1,440 SF
Financed 1 year ago
Summary
Loan
NEW JERSEY
MultiFamily
1,440 sqft
A 6-story ground-up luxury multifamily development located at 6901-05 Madison Street in Guttenberg, NJ, has been involved in a recent transaction. The property consists of 32 units and offers various amenities, including a green rooftop terrace, community lounge, beautifully appointed lobby, and common areas. Additionally, there is a two-floor parking garage available for residents. The transaction involved a loan from Investors to NVN Properties.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $8,000,000
- Lender: Investors
- Landlord: NVN Properties
- Broker: Emil DePasquale - BlackBearCapitalPartners
Emil DePasquale, representing BlackBearCapitalPartners, played a key role in facilitating the transaction. The loan terms for the $8,000,000 loan involved a 2-year term, with a floating interest rate of prime + 1.00%. The loan features a 4.75% floor and requires full-term interest-only payments.
Players
All
2
Agents
1
Agencies
1
Details
FINANCED
IMAGE: Emil DePasquale
DATE: 06/15/2021
ADDRESS: 6901-05 Madison Street
MARKET: Guttenberg, NJ
ASSET TYPE: Multifamily
LENDER: Investors
LANDLORD: NVN Properties
BROKER: Emil DePasquale - @BlackBearCapitalPartners
LOAN AMOUNT: $8,000,000
LOAN TERMS: 2-year term, floating rate of prime + 1.00% with a 4.75% floor featuring full-term interest-only payments.
NOTE: A 6-Story Ground up Luxury Multi- Family development, consisting of 32 units. Building amenities will include a green roof top terrace, community lounge, beautifully appointed lobby and common areas, and a two (2) floor parking garage.View on map
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Address6901-05 Madison Street
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