PEEK Properties Secures $20.5M Construction Loan From Amboy Bank For The LINCOLN

The LINCOLN development site, located at 415 Highland Avenue in Orange, New Jersey, was financed by Amboy Bank for $20.5 million. The project, led by Emanuel Klein & Phillip J. Evanski of PEEK Properties, will consist of a 102-unit multifamily project, offering high-quality amenities and sustainable living options. Construction is expected to be completed by next spring.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $20,500,000
• Market: Orange
• Lender: Amboy Bank
• Landlord: Emanuel Klein & Phillip J. Evanski - PEEK Properties
• Loan Type: Construction Loan
• Loan Terms: 24-month term and 10-year-from-conversion rate

Emanuel Klein & Phillip J. Evanski of PEEK Properties secured financing from Amboy Bank for The LINCOLN project in Orange, New Jersey. This marks PEEK's fifth multifamily redevelopment in the area, continuing its commitment to providing quality housing with modern amenities and sustainable features.