New York Community Bank Provides $6.4M Permanent Mortgage Loan For Mixed-Use Property In Jersey City, NJ

The mixed-use property located at 85 Williams Avenue, 18 Reed Street, and 680-686 Bergen Avenue in Jersey City, NJ has recently undergone a closed transaction. The property offers a diverse range of uses and is situated in a prime location.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Date: 02/12/2022
• Address: 85 Williams Avenue, 18 Reed Street, 680-686 Bergen Avenue, Jersey City, NJ
• Market: Jersey City, NJ
• LANDLORD: Steve Papas
• LENDER: New York Community Bank
• BROKERS: Matt Buggenhagen & Jason Labriola - Meridian Capital Group
• Loan Amount: $6,400,000
• Loan Type: Perm Mortgage
• Loan Terms: 10 year term (5+5)/30 year amortization, 4.95% rate, Non-Recourse

The deal was facilitated by Matt Buggenhagen and Jason Labriola of Meridian Capital Group, who represented the buyer and the seller in the transaction. The involvement of experienced professionals in the real estate industry ensures a smooth and successful deal for both parties involved.