PROGRESS CAPITAL | Jersey City, NJ – $8,605,732
portfolio_page-template-default,single,single-portfolio_page,postid-18820,ajax_fade,page_not_loaded,,qode-child-theme-ver-1.0.0,qode-theme-ver-2.7,wpb-js-composer js-comp-ver-5.4.7,vc_responsive

Jersey City, NJ – $8,605,732

About This Project

$8.6 Million Construction Loan Secured for Jersey City Multifamily Project


Jersey City, NJBrad Domenico arranged an $8,605,732 construction loan for a 34,575 SF multifamily property to be built at 75 Jordan Avenue in Jersey City, NJ.


The new, 6-story building will consist of 35 units, 15 parking spaces and a rooftop deck for tenants to enjoy. The building will be situated within a half-mile radius of the Journal Square Transportation Center, Saint Peter’s University, and two major business districts.


Brad worked with a Credit Union to negotiate a loan equal to 75% of the total project cost with an 18 month interest only period plus a 6 month extension. The loan also has a permanent option with no exit fee or prepayment penalty providing the Borrower ultimate flexibility.


Progress Capital is a leading Commercial Mortgage Banking firm specializing in arranging debt for commercial real estate owners and developers. Since 1990, Progress has successfully closed in excess of $40 Billion in commercial loans and directly funded over $150 Million…we will get you to the closing table … plain and simple  – #thatsPROGRESS