PROGRESS CAPITAL | Union City, NJ – $5,300,000
portfolio_page-template-default,single,single-portfolio_page,postid-17348,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

Union City, NJ – $5,300,000

About This Project

Brad Domenico Secures 12 Months Interest-Only at 3.68% for Acquisition of Union City Multifamily Building


Union City, NJ – Brad Domenico of Progress Capital negotiated a $5,300,000 permanent mortgage for the acquisition of the 5-story brick multifamily building at 1300 Palisades Avenue in Union City. The property encompasses 9,304 SF divided into 44-residential units including (9) 3-bedroom, (33) 2-bedroom, (1) 1-bedroom and 1-studio apartments.


Representing 75% of the subject property acquisition cost, this loan includes a 12 month interest-only period at a rate of 3.68%. In addition, Domenico arranged an initial 5 year fixed-rate period at 3.68% with a 20 year term and 30 year amortization. The loan is non-recourse and includes a declining pre-pay schedule.


Progress Capital is a Commercial Real Estate Mortgage Brokerage Firm specializing in arranging debt for commercial real estate owners and developers of mixed-use, multi-family, construction, industrial, retail, office and commercial storage properties. With an unrivaled network of lending partners and capital market relationships we have arranged over $40 Billion in Transactions and Direct Funded $150 Million.


We get you to the closing table – plain and simple#thatsPROGRESS



View Press Release

View Story on

$86,000,000 Secured for New Construction at 330 East 62nd Street in NYC

$15 Million Line of Credit Arranged for NJ 1-4 Family Acquisitions

$9 Million Secured for Long Branch Transit Village Multifamily Construction

75% LTV on Newark Multifamily Asset

$8.25 Million Negotiated for Acquisition and Renovation of Grand Concourse Retail Building in Brooklyn