$2.72 Million Arranged For Hoboken Mixed-Use New Construction
Brad Domenico of Progress Capital Advisors arranged a $2,720,000 construction loan for a valued client to construct a 5-story mixed-use building at 302-304 Garden Street in Hoboken. The subject property is currently a vacant parcel as the previous structures have already been demolished.
The mixed-use asset will include 2 luxury apartments and 1 street level retail unit. The construction loan term is 18-months interest-only at LIBOR + 3.50%. Construction is set to begin in February of 2018 with an estimated completion in Q4.
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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