PROGRESS CAPITAL | Pompton Lakes, NJ – $6,000,000
19041
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Pompton Lakes, NJ – $6,000,000

Category
Construction
About This Project

$6 Million Construction Loan Secured for Pompton Lakes, NJ Multifamily Building

 

Pompton Lakes, NJBrad Domenico arranged a $6,000,000 construction loan for a proposed multifamily apartment building located at 30-32 Colfax Avenue in Pompton Lakes, NJ.

 

The property is currently a 39,356 SF square lot with a pair of commercial buildings that are scheduled to be razed (demolished). The client plans to develop a distinguished 52 unit elevatored building and establish the residential development as “The Colfax Residencies”.  The site will include 51 on-site parking spaces and 8 on-street spaces along its street frontages. Other improvements will consist of curbing, internal walkways, landscaping and enclosed areas/bins for trash and bike racks. Further features include a nicely-appointed lobby and common hallways with ceramic or luxury vinyl tile flooring, designer lighting, heat and central air-conditioning.

 

Pompton Lakes is a well populated NYC tri-state area suburb situated in the middle of Passaic County, about 25 miles from Midtown Manhattan.  This close-knit community boasts beautiful lakes where people are familiar with all their neighbors. While a charming downtown area occupied with a variety of stores makes shopping pleasant and convenient.

 

Brad worked with Trevian Capital to ensure a strong financial package for his client.

 

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