Kushner Companies Secures $100M Construction Loan For Long Branch Development Site

The development site located at 144 Broadway Place in Long Branch, New Jersey, has secured $100 million in construction financing. The project comprises 299 residential units, 21,318 square feet of retail space, including a SuperFresh grocery store, and 558 parking spaces.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $100,000,000
• Lender: Evan Bell - Unity Capital; Josh Zegen - Madison Realty Capital
• Landlord: Nicole Kushner & Laurent Morali - Kushner Companies
• Loan Type: Construction Loan

Nicole Kushner, Laurent Morali, Evan Bell, and Josh Zegen are the key individuals and companies involved in the transaction. Madison Realty Capital provided an $85 million construction loan, while Unity Capital contributed $15 million in mezzanine financing. The project, designed by Minno + Wasko, aims to revitalize Long Branch's downtown area.