Hoboken, NJ – Brad Domenico arranged $1,012,500 in financing for a valued client to acquire the 20,000 SF Bow-Tie Cinema Building located at 409-415 14th Street in Hoboken. Bow-Tie cinemas owns and operates 59 locations in Colorado, Connecticut, Maryland, New Jersey and Virgina – ranking as the 8th largest movie theater chain in the US. Upon acquisition, 10 years remains on a 20 year ground lease with automatic 15% rate increases every 5 years and two 5 year term renewal options. Valued at $1,350,000 this loan represents a 75% loan to purchase price.
Additional key terms of this loan include:
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