$5.35 Million Refinance for Multifamily in Passaic, NJ
Kathy Anderson and Eli Samaan arranged a $5,350,000 loan to refinance a 2-building, 4-story multifamily property located at 201 Market Street and 40 Morris Street in Passaic, NJ. The buildings, which are adjacent to one another, were constructed in 2008 and 2012. They contain 56 apartment units totaling roughly 52,550 SF on 1.13-acres.
Kathy worked with Red Capital Markets LLC to negotiate the following key terms:
- 4.42% Fixed for 10 Years
- 20 Year Term with Rate Resets Subject to a Cap
- 30 Year Amortization
- Declining Prepayment
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