PROGRESS CAPITAL | Brielle, NJ – $3,500,000
18980
portfolio_page-template-default,single,single-portfolio_page,postid-18980,ajax_fade,page_not_loaded,,qode-child-theme-ver-1.0.0,qode-theme-ver-2.7,wpb-js-composer js-comp-ver-5.4.7,vc_responsive

Brielle, NJ – $3,500,000

Category
Multi-Family
About This Project

$3.5 Million Refinance Arranged for Multifamily Property in Brielle, NJ

 

Brielle, NJ – Brad Domenico secured $3,500,000 for a valued client to refinance the 29 unit multifamily property located at 715 Union Ave in Brielle, NJ.

 

The community, now known as “Whaler’s Quay”, was acquired by the client in 2014. At that time, the property was comprised of a mix of permanent efficiency apartments and mobile trailers. The community recently completed construction this year to build the 29 units which now consist of high-end one and two-bedrooms.

 

Brielle is a borough located in southern Monmouth County. The property’s location is very close to the Manasquan River, as well as the beaches of the Jersey Shore. It is a quick bike or car ride to both the Manasquan or Point Pleasant Beaches along with their wonderful shops and restaurants.

 

Brad worked with a local Savings Bank to negotiate the following key terms:

  • 70% LTV
  • 4.375% Fixed for 7 Years
  • Declining Prepay
  • 30 Year Amortization

 

 

Progress Capital is a leading Commercial Mortgage Banking firm specializing in arranging debt for commercial real estate owners and developers. Since 1990, Progress has successfully closed in excess of $40 Billion in commercial loans and directly funded over $150 Million…we will get you to the closing table … plain and simple  – #thatsPROGRESS