Leverage Capital Provides $1.02M Bridge Loan For Multifamily Property In Jersey City

The multifamily property located at 245 Duncan Ave. in Jersey City, NJ was recently involved in a closed transaction. The property spans approximately 5,319 square feet and consists of 6 units. The transaction took place on April 21, 2022.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $1,023,500
• Address: 245 Duncan Ave.
• Market: Jersey City, NJ
• Square Footage: 5,319
• Unit Count: 6

The loan, amounting to $1,023,500, was secured from Leverage Capital by Eric Panecki and Veronique Hut. The loan type was a bridge loan, and the loan terms had a loan-to-cost (LTC) ratio of 85.79%. It's important to note that Mahir Allan is the landlord of the property.