$2,720,000 Arranged for Hoboken Mixed-Used New Construction

HOBOKEN, N.J. - April 16, 2018 - PRLog -- Brad Domenico of Progress Capital Advisors arranged a $2,720,000 construction loan for a valued client to construct a new 5-story mixed-use building at 302-304 Garden Street. 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 with a floating rate at LIBOR + 3.50% with a floor of 4.5%. Construction is set to begin in February of 2018 with an estimated completion in Q4. This loan represents a 70% loan to project cost.

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

Visit (http://www.progresscapital.com)

Learn more about this and other closed loans at:
(http://www.progresscapital.com/closed-loans)