PROGRESS CAPITAL | David Cappello Arranges $1.5 Million in Commercial Mortgage Financing for Teaneck New Jersey Cedar Lane Retail and Banquet Facility
Dave Capello of Progress Capital Advisors arranged a $1,500,000 acquisition loan for the purchase and refurbishment of the 10,575 SF retail building located at 394-400 Cedar Lane. The property is significantly vacant, and the borrower will be opening a 7,800 SF banquet facility. Located in the heart of Teaneck's 100-year-old main shopping district, this property offers prime space with high visibility amidst 175 other retailers on Cedar Lane. Designated as a 'Special Improvement District,' this location provides additional government incentives for redevelopment, refurbishment and new construction opportunities.Dave Capello of Progress Capital Advisors arranged a $1,500,000 acquisition loan for the purchase and refurbishment of the 10,575 SF retail building located at 394-400 Cedar Lane. The property is significantly vacant, and the borrower will be opening a 7,800 SF banquet facility. Located in the heart of Teaneck's 100-year-old main shopping district, this property offers prime space with high visibility amidst 175 other retailers on Cedar Lane. Designated as a 'Special Improvement District,' this location provides additional government incentives for redevelopment, refurbishment and new construction opportunities.
david cappello commercial mortgage financing new jersey new york real estate lending teaneck cedar lane
14768
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Teaneck, NJ – $1,500,000

Category
Construction, Retail
About This Project

 

$1.5 Million for Teaneck Retail and Banquet Facility

 

Dave Capello of Progress Capital Advisors arranged a $1,500,000 acquisition loan for the purchase and refurbishment of the 10,575 SF retail building located at 394-400 Cedar Lane.  The property is significantly vacant, and the borrower will be opening a 7,800 SF banquet facility.  Located in the heart of Teaneck’s 100-year-old main shopping district, this property offers prime space with high visibility amidst 175 other retailers on Cedar Lane.  Designated as a ‘Special Improvement District,’ this location provides additional government incentives for redevelopment, refurbishment and new construction opportunities.  The details for this loan include:

 

  • 5.25% Fixed for 5 Years
  • 25 Year Term / Amortization
  • 3-3-2-2-1-0 Prepay

 

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