Closed Loans

Hoboken, NJ

70% Land Acquisition Loan in Hoboken NJ

When a long-term client reached out to Progress Capital with a demanding set of circumstances, they were able to find the solutions.


  1. Forty-five (45) day time of the essence closing
  2. Land without building approvals


  1. Knowledge of the client with financials on file
  2. Immediate access and trusted relationship with the appropriate lenders


Progress Capital arranged a 70% land acquisition loan, without the requisite approvals and a construction loan for the building subject to approvals. The Bank provided a permanent conversion option should the client decide to convert with the same Bank.

The client now has an incredible opportunity to redevelop a parking lot into 30 luxury rental units with a 46 unit parking garage and a retail space in one of Jersey’s highest sought after cities, Hoboken.

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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