Progress Capital Arranges $14 Million in Refinancing for Trio of Hoboken Properties
Brad Domenico and Frank Stanislaski of Progress Capital arranged $14,000,000 in refinancing for a client’s commercial real estate property portfolio consisting of three (3) mixed-use properties located in Hoboken, NJ.
Valley National Bank provided the financing accompanied by favorable terms including a 2-year interest only period.
“Valley National Bank was able to provide aggressive but flexible terms for Andrew and his team to complete their business goal – It was a Win Win deal!” Domenico said
The locations of the properties include 1327 Willow Avenue, 221 Washington Street, 1224 Washington Street, Hoboken, NJ. The properties combined contain a total of 4 commercial units and 40 residential apartments, ranging from 1 to 4 bedrooms.
The buildings are situated in the best areas of Uptown Hoboken with easy access to numerous forms of public transportation, including the Hoboken Path, as well as the 126 Bus which offers easy access to New York City. Hoboken Bike and Lime scooters are also available on almost every corner making local transportation more convenient for local residents.
Progress Capital is a commercial real estate advisory firm with over $40 Billion in closed loans and $150 Million of directly funded bridge loans. Since 1990, we consistently get our clients to the closing table… plain and simple!