Scale Lending Provides $71M Construction Loan For Little Ferry, NJ Development Site

110 Bergen Turnpike, a development site located in Little Ferry, NJ, has been involved in a recent closed transaction. The property consists of 294 units and serves as a prime opportunity for development.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $71,000,000
• Market: Little Ferry, NJ
• Lender: Scale Lending
• Landlord: Capodagli Property Company
• Broker: Greystone - Drew Fletcher, Bryan Grover, and Miryam Reinitz-Kops

A notable aspect of the deal is the loan type, which is a construction loan provided by Scale Lending. As the transaction involves the development site, the loan will facilitate the construction process, allowing for the realization of the site's potential.

The involvement of various individuals and companies adds to the uniqueness of the transaction. Martin Nussbaum, representing Slate Property Group, played a crucial role in the deal. Additionally, the broker team from Greystone, namely Drew Fletcher, Bryan Grover, and Miryam Reinitz-Kops, acted as representatives in the transaction.