$5.7 Million Secured for Multifamily/Condo Portfolio
Brad Domenico arranged 2 acquisition loans totaling $5,700,000 for a valued client’s Multifamily/Condo Portfolio.
The multifamily property located at 46 James Street in Montclair, NJ has 3 floors of spacious living complete with hardwood and bamboo floors, high ceilings and a two-car garage plus additional parking spaces. The location is key with close proximity to schools, shops and NYC transportation.
Brad worked with Spencer Savings Bank to negotiate the following key terms:
- 80% LTV
- 625% for 7 Years
- 30 Year Amortization
- No Prepayment Penalty
The condo property located at 45 East 22nd Street in Manhattan is positioned to capture breathtaking triple exposure views to the North, East and South. The two-bedroom duplex features double-height ceilings, conveniently located split bedrooms, and beautifully designed white oak with bronze detail stairs. The building features a live-in resident manager, on-site Luxury Attach concierge, and a 24-hour doorman. Amenities include a full-floor fitness center, basketball court, simulator room, playroom, library, billiards, cards room, and terrace with outdoor grill.
Brad worked with City National Bank to negotiate the following key terms:
- 75% LTV
- 30 Year Amortization
- No Prepayment Penalty
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
