Progress Capital Advisors arranged a $3,829,000 loan for the purchase of a four story multi-family building in Cliffside Park, NJ. Comprised of 18 apartments and 36 covered parking spaces, the building is located just blocks from Anderson Avenue, the downtown shopping hub.
“Since the borrower plans to refurbish the building and increase rents, initial fixed rate term and prepayment flexibility was crucial to the business plan,” said Brad Domenico. The bank was very flexible working through a customized loan experience with us. The following were key terms of the loan:
Progress Capital Advisors loan programs include Fixed Rate Loans, Construction and Specialty Financing as well as Directly Funded Bridge Loans. With over $40 Billion in closed loans and $100 Million in bridge and direct lending, we will get you to the closing table … plain and simple – #thatsPROGRESS