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120 W Passaic St
FINANCED

Provident Bank Provides $34.8M Loan For MultiFamily Property In Rochelle Park

120 W Passaic St

MultiFamily
clock iconFinanced 234 days ago
Michael Klein
Michael Klein
Robert McKee
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Summary

Loan
NEW JERSEY
MultiFamily

The Delford, a new 160-unit multifamily development located at 120 West Passaic St in Rochelle Park, NJ, is currently under construction with the assistance of a $34.8 million construction loan from Provident Bank. The upscale project will feature one- and two-bedroom homes along with various amenities such as lounge space, a rooftop terrace, co-working offices, and a fitness center. Situated near major roads and highways, the development offers a convenient location for residents.

Summary of transaction details:

  • Property Type: MultiFamily
  • Transaction Amount: $34,800,000.00
  • Market: Rochelle Park
  • Lender's Rep: Vice President, Provident Bank(Provident Bank)
  • Borrower's Rep: Michael Klein(Liberty Realty), Michael Klein(JLL)
  • Lender: Provident Bank

JLL senior managing directors Michael Klein and Jon Mikula played a pivotal role in arranging the financing on behalf of Tulfra Real Estate for The Delford project. The relationship between Tulfra and Provident Bank for financing extends over two decades, with Robert McKee, the Vice President of commercial real estate at Provident, representing the lender in this transaction. Sonny Jumani, the CEO and president of Tulfra, expressed gratitude towards the financing team and highlighted the strong partnership with Provident Bank.

Players

  • All

    7

  • Agents

    3

  • Agencies

    3

  • Lenders

    1

Michael Klein's profile picture
Michael Klein
Liberty Realty-image
Sales Associate
$8.4M Sold

Details

Deal Summary
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FINANCED
IMAGE: 120 W Passaic St, Rochelle Park, NJ, 0... MARKET: Rochelle Park ASSET TYPE: MultiFamily LENDER'S REP: Vice President, Provident Bank(Provident Bank) BORROWER'S REP: Michael Klein(Liberty Realty), Michael Klein(JLL) LENDER: Provident Bank LOAN AMOUNT: $34,800,000.00.00

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Address120 W Passaic St

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