JG Funding Corp & First Loans Refinance Loan For Orange & East Orange Development Site

A development site located at 433 Central Ave, 350 Park Avenue, 395-99 Dr Martin Luther King Jr Blvd & 121 North Grove Street in the Orange and East Orange market has been involved in a loan transaction. The site spans approximately 51,800 square feet with a buildable square footage of 42,000.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: Not specified
• Address: 433 Central Ave, 350 Park Avenue, 395-99 Dr Martin Luther King Jr Blvd & 121 North Grove Street
• Market: Orange & East Orange
• Lender: JG Funding Corp & First Loans - Aaron Spielman
• Landlord: Proud Living
• Loan Amount: $1,800,000
• Loan Type: Refinance
• Loan Terms: 1st Lien with Partial Release, 12 months + extensions; I/O payment - FIXED RATE

The loan for the development site was provided by JG Funding Corp and First Loans, with Aaron Spielman representing both lenders. The loan amount is $1,800,000 and the loan type is a refinance. The loan terms include a first lien with partial release and a 12-month duration with the possibility of extensions. The payment is interest-only and the interest rate is fixed.