Progress Capital Secures $14M Refinance Loan For Mixed-Use Properties In Hoboken, NJ

A mixed-use property located at 1327 Willow Ave., 221 Washington St., and 1224 Washington St. in Hoboken, NJ has been refinanced with a loan amount of $14,000,000. The property spans approximately 36,805 square feet.

Summary of transaction details

• Property Type: Mixed-use
• Transaction Amount: $14,000,000
• Address: 1327 Willow Ave., 221 Washington St., and 1224 Washington St., Hoboken, NJ
• Market: Hoboken, NJ
• Lender: Valley National Bank
• Landlord: Skylight Real Estate Partners – Andrew Miller & Bennat Berger
• Brokers: Brad Domenico & Frank Stanislaski – Progress Capital
• Loan Terms: 2-Years I/O

Brad Domenico and Frank Stanislaski from Progress Capital represented the borrower in this refinancing deal. Skylight Real Estate Partners, headed by Andrew Miller and Bennat Berger, acted as the landlord. Valley National Bank provided the loan, which has a 2-year interest-only term.