Closed Loans

Progress Capital Arranges $3.5 Million in Financing for a Trio of Properties in New York and New Jersey

Can you say ‘Closed’ 3 times?  Brian Anderson and Eddie Miro of Progress Capital score a ‘hat-trick’ in the real estate sector by closing three loans in 1 day, totaling $3,500,000.  The duo worked with 3 different lenders to make this happen…  Ocean First, Webster’s and Mariner’s Bank.

  1. Union City, NJ – Acquisition loan for a (6) story multifamily building containing a total of 21 apartments. The property’s unit mix consists of (15) two-bedroom units and (6) one-bedroom units.
  1. Piscataway, NJ – Refinance of a 7,500 SF corner lot containing a 2-story multifamily dwelling.
  1. Staten Island, NY – Refinance of a 7,200 SF single-unit professional office building built in 2001. The office building is 100% occupied by Northwell Health Medical Center, a non-profit integrated healthcare network that is known as New York State’s largest healthcare provider.

All three properties are located amongst numerous small businesses, restaurants, parks, boutiques and many national retailers.

Progress Capital is a commercial mortgage advisory firm with over $40 Billion in closed loans and $150 Million of directly funded bridge loans.  With over 30 years of experience, we continually prove our value to our clients by securing the best capital options available in the market.

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