The transaction involved two parcels of land located at 270 and 299 Irvington Avenue in South Orange, New Jersey, totaling 2.2 acres. The properties were purchased for $5.1 million in August 2025 and have been financed through a loan amounting to $2,850,000 at a loan-to-value ratio of 55%. The planned mixed-use development on this land will feature 61 residential units along with multiple commercial spaces spread across three buildings, with construction anticipated to commence in 2027.

Summary of transaction details:

• Property Type: Land
• Transaction Amount: $2,850,000
• Address: 270 & 299 Irvington Avenue
• Market: South Orange
• Acres: 2.2
• Lender: Mark Falzone & Kevin Wolfer - Kennedy Funding
• Purchase Price: $5.1 million
• Loan-to-Value Ratio: 55%
• Development Plans: 61 residential units and multiple commercial spaces
• Construction Start Year: 2027

Mark Falzone and Kevin Wolfer of Kennedy Funding facilitated the land loan, highlighting their role as lenders in this transaction. Their involvement underscores their contribution to financing the planned development, which aims to enhance the area's real estate offerings through a mixed-use approach.