Matt Cimiluca & Mark Cimiluca Secure $10 Million Construction Loan For Mixed-Use Property In Jersey City

The property asset involved in the transaction is a mixed-use building located at 155 Newark Avenue, Jersey City, NJ. It comprises 27 residential units and one ground floor retail space, offering a total square footage of 21,973. The loan amount for this construction project is $10,000,000.

Summary of transaction details:

• Property Type: Mixed-Use
• Transaction Amount: $10,000,000
• Address: 155 Newark Avenue
• Market: Jersey City, NJ
• Asset Size: 21,973 SF
• Units: 27 Residential Units & 1 Ground Floor Retail Space
• Lender: S3 Capital Partners
• Landlord: Matt Cimiluca & Mark Cimiluca
• Mortgage Broker: John Libretti - Progress Capital
• Co-Brokers: Eric Panecki, Matt Neptun & David Choi - Brick City Capital

This transaction involved key individuals and companies such as the lenders S3 Capital Partners and the landlords Matt Cimiluca and Mark Cimiluca. John Libretti acted as the mortgage broker representing Progress Capital while the co-brokers Eric Panecki, Matt Neptun, and David Choi were part of Brick City Capital, contributing to the successful arrangement of this financing deal.