PROGRESS CAPITAL | Passaic, NJ – $2,960,000
18424
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Passaic, NJ – $2,960,000

Category
Retail
About This Project

$2.9 Million Arranged for Mixed-Use Property in Passaic, NJ

 

Passaic, NJ – Brad Domenico  secured $2,960,000 for a four-story, mixed-use building located on the ideal Market Street in the downtown area of Passaic.

 

The property, located at 87-91 Market Street is comprised of (12) residential apartment units and (1) commercial unit on the ground floor occupied by Metro PCS. The building has all new units built in 2010 and offers (12) parking spaces for the tenants which are included in their rent.

 

Brad worked with Red Capital Markets LLC to negotiate the following key terms:

  • 80% LTV
  • 4.59% I/O for 7 Years
  • 30 Year Amortization
  • Non-Recourse

 

Progress Capital is a leading Commercial Mortgage Brokerage Firm specializing in arranging debt for commercial real estate owners, operators and developers. Since 1990, Progress has successfully closed in excess of $40 Billion in commercial loans and directly funded over $150 Million.

We Get You to the Closing Table… Plain and Simple. #thatsPROGRESS