Balfour Real Estate Acquires Multifamily Property In Bayonne, NJ For $827.5K

The multifamily property located at 64 West 18th Street in Bayonne, NJ has recently undergone a closed transaction. The property boasts a total of 2,275 square feet and consists of 6 units.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $827,500
• Address: 64 West 18th Street, Bayonne, NJ
• Market: Bayonne, NJ
• Square Footage: 2,275
• Number of Units: 6

The lender involved in this transaction was Stormfield Capital. Balfour Real Estate, represented by Miles Bronstein and Brett Rosenthal, acted as the landlord. Additionally, David May of Progress Capital served as the broker responsible for facilitating the deal.

The loan, amounting to $827,500, was procured in the form of a bridge loan. The specific terms of the loan included a non-recourse acquisition bridge loan, which was successfully closed within a remarkably short period of 3 weeks.