Ramani Group Secures $60 Million Construction Loan From Invictus Real Estate Partners In Plainfield

401 East 3rd Street is a development site located in Plainfield, New Jersey, where a mixed-use project is set to be constructed. The project will include 266 residential units along with 10,000 square feet of retail space. The total amount for the construction loan is $60 million.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $60,000,000
• Lender: Eric Scheffler & Christopher Pardo - Invictus Real Estate Partners
• Landlord: Ramani Group
• Broker: Brian Anderson - Cushman & Wakefield
• Location: 401 East 3rd Street, Plainfield, New Jersey
• Loan Type: Construction

Brian Anderson, representing Cushman & Wakefield, facilitated the financing for this development project, which is strategically located near the NJ Transit commuter rail station, enhancing its accessibility and potential value to future residents and businesses.