Redwood Capital Advisors Facilitates $1.5M Refinance Loan For Multifamily Property In Jersey City

The property involved in this closed transaction is a multifamily building located at 219 New York Ave in Jersey City. The property consists of 12 units and has a total square footage of 5,001. The transaction took place on 03/25/2022.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $1,500,000
• Loan Type: Refinance
• Loan Terms: 3.5% Fixed for 10 Years, 30 Year Amortization, Non-Recourse, Prepay: 3,2,2,1,1

The lender for this transaction is Lakeland Bank. The landlord of the property is Red Star Properties, LLC. The broker involved in the deal is Edward McCarthy from Redwood Capital Advisors.