Hoboken, NJ – Brad Domenico of Progress Capital Advisors arranged a $2,720,000 construction loan for a valued client to construct a 5-story mixed-use building at 302-304 Garden Street in Hoboken. The subject property is currently a vacant parcel as the previous structures have already been demolished.
The mixed-use asset will include 2 luxury apartments and 1 street level retail unit. The construction loan term is 18-months interest-only at LIBOR + 3.50%. Construction is set to begin in February of 2018 with an estimated completion in Q4.
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