Jacob Savitt Provides $65 Million Construction Loan For Mixed-Use Development In Jersey City

The asset involved in the transaction is a development site located at 682 New Jersey Highway 440 in Jersey City. The loan amount for this project is $65,000,000.00, which falls under a construction loan type.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $65,000,000.00
• Address: 682 New Jersey Highway 440
• Market: Jersey City
• LENDER: Jacob Savitt
  LANDLORD: Mohan Myneni
• Loan Type: Construction

This transaction involves key individuals and companies, including Lillian Fried, who is the broker representing the deal. The lender, Bravo Property Trust, is providing the financial backing for the construction project, while Myneni Properties acts as the landlord in this arrangement.