Progress Capital arranged a $2,900,000 permanent loan for a four-story brick apartment building comprised of 8 units located at 529 Jefferson Street, Hoboken, NJ. The loan was arranged by Brad Domenico at a 7 year fixed rate of 3.375% with a 30 year amortization.
“We were able to secure the permanent financing for our client using projected rent numbers even though the building was vacant and undergoing a total renovation,” said Brad Domenico.
The appraised value of $500,000 per unit is a testament to the workmanship and quality finishes delivered by the developer.
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