OceanFirst Bank Provides $21M Construction Loan For Multifamily Development In Orange, NJ

A construction loan of $21,000,000 has been provided by OceanFirst Bank for the development of a multifamily property located at 72 South Essex Street in Orange, NJ. The property is being developed by Peek Properties, represented by Phil Evanski and Emmanuel Klein. The deal was facilitated by Daniel Cohen of Meridian Capital Group.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $21,000,000
• Lender: OceanFirst Bank
• Landlord: Peek Properties - Phil Evanski & Emmanuel Klein
• Broker: Daniel Cohen - Meridian Capital Group

The construction loan provided by OceanFirst Bank will support the development of the multifamily property at 72 South Essex Street, Orange, NJ. The project is being led by Peek Properties, represented by Phil Evanski and Emmanuel Klein. The financing deal was facilitated by Daniel Cohen from Meridian Capital Group, ensuring the smooth execution of the construction project.