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$4,650,000 Bridge Loan Arranged for Phase I of Proposed Newburgh Mixed-Use Development
Brad Domenico of Progress Capital Negotiated the Amount and Terms of the 12 Month Interest-Only Loan.
By: Progress Capital
The proposed waterfront development includes 528,583 SF of residential condominiums, 181,811 SF of parking, 101,631 SF of retail space and 1,950 SF dedicated to the Ferry Terminal and Dock. In total the site will include 813,975 SF of mixed-use space. Domenico arranged a $4.65 Million 12 month interest-only bridge loan with (2) 6 month extension options. This loan represents a 50% loan to current as-is value of the multiple properties and existing structures.
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
Learn More About This and Other Recently Closed Transactions at: