Arbor Commercial Mortgage Provides $15.25M Loan For Jersey City Multifamily Portfolio

The asset involved in this transaction is a 134-unit multifamily portfolio located in Jersey City, NJ. The portfolio consists of multiple addresses: 150 & 154 Belmont Ave., 201-203 Claremont Ave., 33-35 Storms Ave., 35 Kensington Ave., and 590 Bergen Ave. The loan amount for this acquisition financing transaction is $15,250,000 with terms set for 5 years on an interest-only basis and a non-recourse structure.

Summary of transaction details:

• Property Type: Multifamily Portfolio
• Transaction Amount: $15,250,000
• Lender: Arbor Commercial Mortgage
• Landlord: Amir Ben-Yohanan & Abraham Gagin
• Mortgage Broker: Brad Domenico - Progress Capital
• Seller’s Broker: Niko Nicolaou - Gebroe-Hammer
• Loan Terms: 5-Years Interest Only on a Non-Recourse basis
• Market: Jersey City, NJ

This transaction highlights the key individuals involved, including the landlords Amir Ben-Yohanan and Abraham Gagin, who are responsible for the property ownership. The deal was facilitated by mortgage broker Brad Domenico from Progress Capital and seller's broker Niko Nicolaou from Gebroe-Hammer. Their roles were crucial in bringing the transaction to completion.