PROGRESS CAPITAL | Brad Domenico Secures 3.25% Fixed Rate Commercial Mortgage Financing for Cliffside Park, NJ Apartment Building
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.
brad domenico, commercial mortgage, commercial financing, commercial real estate, commercial property, financing, commercial lending
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Cliffside Park, NJ – $3,829,000

Category
Multi-Family
About This Project

 

3.25% Fixed Rate for Cliffside Park, NJ Apartment Building

 

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:

 

  • 3.25% Fixed for 3 Years
  • Pre-locked rate adjustments for Years 4-10
  • 30 Year Term
  • 30 Year Amortization
  • Non-Recourse
  • Flexible Prepay

 

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