Progress Capital | The Funding Source arranged a $2,900,000 permanent loan for a four-story brick apartment building comprised of 8 units located at 529 Jefferson Street, Hoboken, NJ. The loan was arranged by Brad Domenico at a 7 year fixed rate of 3.375% with a 30 year amortization.
“We were able to secure the permanent financing for our client using projected rent numbers even though the building was vacant and undergoing a total renovation,” said Brad Domenico.
The appraised value of $500,000 per unit is a testament to the workmanship and quality finishes delivered by the developer.
Progress Capital Advisors loan programs include Construction, Fixed Rate Loans and Specialty Financing, as well as Directly Funded Bridge Loans. With over $40 Billion in closed loans and $100 Million in direct lending, we will get you to the closing….. plain and simple.