S3 Capital Partners Provides $25M Construction Loan For Multifamily Buildings In Bayonne And Old Bridge, NJ

The loan transaction involves two buildings located at 110-112 Ave. E. in Bayonne and 510 NJ-34 in Old Bridge, New Jersey. The property is classified as a multifamily asset, with a total square footage of 151,083 and 106 residential units. The loan was secured for a construction project in the Bayonne and Old Bridge markets.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $25,000,000
• Address: 110-112 Ave. E., Bayonne, NJ & 510 NJ-34, Old Bridge, NJ
• Market: Bayonne & Old Bridge, NJ
• Square Footage: 151,083
• Number of Units: 106

The loan was obtained from S3 Capital Partners, with Robert Schwartz and Steven Jemal representing the lending institution. The broker team responsible for facilitating the deal consisted of AJ Felberbaum, Jay Miller, and Spencer Miller from BayBridge Real Estate Capital. The loan type secured for the project was a construction loan.

It is important to note that 110-112 Ave. E. is a 70-unit multifamily building located in Bayonne, while 510 NJ-34 comprises 36 residential units and is situated in Old Bridge.