Newport Centre
A retail property in Jersey City, New Jersey. Securitized in 1 CMBS deal in 2024.
$436.8MAppraised value (latest deal)
92.5%Occupancy
$28.8MUnderwritten NOI
6.6%Implied cap rate
- Address
- 30 Mall Drive West, Jersey City, NJ 07310
- Property type
- Retail · Super Regional Mall
- Year built
- 1987
- Size
- 966,186 SF
- Sponsor
- Simon Newport Limited Partnership and LF Newport Jersey Limited Partnership
- Loan purpose
- Refinance
- Largest tenant
- Macy's
Appearances in CMBS deals
| Deal | Cut-off / filing | Appraised | Occ. | UW NOI | Cap | Loan / alloc. bal. | LTV | DSCR | Source |
|---|---|---|---|---|---|---|---|---|---|
| BANK 2024-BNK48 | 2024-10-01 | $436.8M | 92.5% | $28.8M | 6.6% | $20.0M | 43.0% | 2.66x | 424B |
Historical NOI reported in BANK 2024-BNK48
| Period ending | NOI |
|---|---|
| 6/30/2024 | $27.7M |
| 12/31/2023 | $27.8M |
| 12/31/2022 | $27.4M |
More CMBS properties in New Jersey →
Figures are read from Annex A-1 of the trust's SEC prospectus as of the deal's cut-off date. Parsing can misread a cell; the prospectus link is the authoritative source. Implied cap rate = underwritten NOI ÷ appraised value, shown only between 2% and 20%.