PROGRESS CAPITAL | Fairview, NJ – $21,500,000
18938
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Fairview, NJ – $21,500,000

Category
Construction
About This Project

$21.5 Million Construction Loan Secured for Fairview, NJ Multifamily Property

 

Fairview, NJ – Brad Domenico negotiated a $21,500,000 construction loan for a valued client’s growing multifamily portfolio.

 

The property is located at 520 Cliff Street in Fairview, NJ and sits on a 2.44-acre site, in the sought-after Bergen County. Construction on the site includes development of a 5-story multifamily building consisting of 140,540 SF of living space. The mid-rise will be comprised of 111 residential units, including an outdoor swimming pool and above-grade parking garage. This property is a great location for commuters and views of the NYC skyline.

 

Brad negotiated the loan to include the following key terms:

  • Non-Recourse
  • 75% LTC
  • 24 Month I/O Period

 

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.