Valentino And Maik Kontos Secure $2.3M Construction Loan For Office Building In Woodbridge

The Kontos Group, a real estate development company, has secured a $2.3 million dollar construction loan from Manasquan Bank in order to fund the construction of a 16,144 square foot Office Building located at 374 Green St in Woodbridge. The loan will be used by the company's sister company, Kontos Construction, to begin construction in the following weeks, with completion scheduled for October 1, 2023.

Summary of transaction details

• Property Type: Office
• Transaction Amount: $2,300,000
• Address: 374 Green St
• Market: Woodbridge
• Square Footage: 16,144
• Lender: Manasquan Bank
• Landlord: Valentino Kontos & Maik Kontos - The Kontos Group - Kontos Construction - The Kontos Group, LLC
• Loan Type: Construction
• Loan Terms: I/O - 18 months construction loan with permanent conversion for 25 years and rate locked every 5 years

Valentino and Maik Kontos, principles at The Kontos Group, will oversee the development of the Office Building. Kontos Construction, their sister company, will be responsible for the construction process. The completion of this project will contribute to the growth and development of the Woodbridge market. For leasing information, interested parties can contact The Kontos Group.