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$1.5 Million Refinance Secured for Perth Amboy Retail Property

$1.5 Million Refinance Secured for Perth Amboy Retail Property

Brad Domenico arranged $1,500,000 for the refinance of a retail property located at 279-285 Madison Avenue in Perth Amboy, NJ.

The property is a 7,790 SF retail strip comprised of 3 units. The unit mix consists of a dental office, bakery and a laundromat and is located off of Smith Street, a high retail section which includes various shops, restaurants, and other service related businesses. The property is also located within 2 miles of the Perth Amboy High School as well as the Garden State Parkway.

Brad worked with Signature Bank to negotiate a non-recourse loan with a fixed rate of 4.50% for 5 years with 30-year amortization and a 10-year term. The loan represents a 75% loan to value ratio.

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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