Domenick Tonacchio And Daniel Spiegel Secure $62.5 Million Bridge Loan For Multifamily Asset In Newark

The property asset involved in the transaction is located at 50 Sussex Avenue, Newark, NJ. This multifamily asset comprises 203 units and has a total square footage of 173,041. The loan amount secured for this property is $62,500,000, designated as a bridge loan.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $62,500,000
• Address: 50 Sussex Avenue
• Market: Newark, NJ
• Units: 203
• Square Footage: 173,041
• Lender: Aaron Krawitz, Gabi Moshayev & Aidan Birnbaum - Bravo Property Trust
• Landlord: Domenick Tonacchio, Daniel Spiegel & Yehuda Kotkes
• Broker: Shlomo Weissberg - Meridian Capital Group

The transaction involves key individuals including the lenders Aaron Krawitz, Gabi Moshayev, and Aidan Birnbaum representing Bravo Property Trust, who facilitated the loan. The landlords in the deal are Domenick Tonacchio, Daniel Spiegel, and Yehuda Kotkes, indicating their involvement in managing the property. Shlomo Weissberg from Meridian Capital Group acted as the broker representing the transaction.