Closed Loans

$1.1 Million Secured for Hamburg, NJ Multifamily Property

$1.1 Million Secured for Hamburg, NJ Multifamily Property

Brad Domenico negotiated a $1,100,000 Non-Recourse loan for a valued client to acquire a multifamily building located at 62 King Cole Road in Hamburg, NJ.

The property is a condo townhome row home style co-op building built in 1960. The 12,000 SF, 2-story building consists of (14) 2-bedroom, 1-bath residential units with basements. The property is located just off Route 23 and is within 1 mile of various restaurants, shops and other amenities.

Brad worked with Northfield Bank to negotiate the following key terms:

  • 4.35% Fixed for 5 Years
  • 75% LTV
  • 30 Year Amortization

Progress Capital is a commercial real estate advisory company serving clients since 1990. With over $40 Billion in closed loans and $150 Million of directly funded bridge loans, we will get you to the closing table… Plain and Simple. #thatsProgress

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