Progress Capital Arranges $3.10 Million in Refinancing for Historic Property in Jersey City
Gabby Cali of Progress Capital secured $3,100,000 in refinancing for the owners of White Eagle Hall, a 13,353 square-foot historical building located at 335-337 Newark Avenue, Jersey City, NJ.
On behalf of her clients, Gabby worked closely with all parties involved, including structuring loan financing with favorable terms, provided by Hanover Community Bank.
Since purchasing the property in 2012, the owners have invested capital into the property by restoring and renovating the historic building, which sits in the thriving nightlife scene of Downtown Jersey City. The property consists of 3-units, fully-occupied by a diverse range of tenants, including a theater and two restaurants.
White Eagle Hall presents live music, theatre, comedy, dance, film, family shows as well as other performances while serving food and drinks. Additionally, it’s a warm and intimate event space that is fitting for weddings, banquets, fundraisers, corporate meetings and other private events.
The Hudson City community of Jersey City is an eclectic urban destination with a revitalized feel, an international population and lots of greenery. The area offers an array of international dining cuisine, exciting cultural festivities, as well as sports attractions and plenty of outdoor recreation.
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 have been providing Honest Advice and Expert Execution in order to help our clients get to the closing table.