Freddie Mac Provides $66.5 Million Loan For Multifamily Properties In Hoboken And North Bergen

The multifamily property located at 55 Bloomfield Ave, 1200-1220 26th St & 2615-2635 Kennedy Blvd in Hoboken and North Bergen has recently undergone a closed transaction. The property consists of a total of 376 units, making it a significant investment in the area.

Summary of Transaction Details

• Property Type: Multifamily
• Transaction Amount: $66,500,000
• Market: Hoboken, North Bergen
• Image: Gary Cohen
• Date: 01/04/2022
• Address: 55 Bloomfield Ave, 1200-1220 26th St & 2615-2635 Kennedy Blvd
• Units: 376

The loan for this transaction was provided by Freddie Mac, a well-known lender in the real estate industry. Meanwhile, the landlord involved in the deal is Applied Housing Management Company. Representing the parties involved in the transaction is Gary Cohen from Northmarq, who acted as the broker.

The loan amount for this transaction was $66,500,000, with terms set for a 10-year term followed by a 30-year amortization schedule, offering favorable conditions for the parties involved.