Michael Tsor Of Broadview Funding Provides $1.55M Construction Loan To Asaf Hammerman In Jersey City

The asset involved in this transaction is a development site located at 210 Hutton Street in Jersey City. This property encompasses a total area of 5,000 square feet and is identified as a construction project. The deal involves a loan amount of $1,550,000, designated for a 4 unit ground-up condo project.

Summary of transation details:

• Property Type: Development Site
• Transaction Amount: $1,550,000
• Lender: Michael Tsor - Broadview Funding
• Landlord: Asaf Hammerman
• Loan Type: Construction
• Loan Terms: 24 months
• Note from Lender: 75% of purchase + 100% construction funding

Michael Tsor from Broadview Funding is facilitating the financing for this project, which is part of their portfolio of private debt funding solutions. Broadview Funding specializes in bridge and 30-year Debt Service Coverage Ratio loans in the Tri-State area and Florida. For inquiries related to similar projects, Michael Tsor can be reached directly at 516-344-7942 or via email at [email protected].