Hector Rosero Of Pilla Investments Secures $1.3M Construction Loan For Luxury Estate In Paramus

The property asset is a single-family home located at 113 Midland Avenue in Paramus. The existing structure spans 3,222 square feet and will be demolished to make way for a new luxury estate measuring 8,800 square feet. This development is backed by a construction loan of $1,300,000 from Amplend.

Summary of transaction details:

• Property Type: Single Family
• Transaction Amount: $1,300,000
• Address: 113 Midland Avenue
• Market: Paramus
• Asset Size: 8,800 SF
• Lender: Amplend
• Landlord: Hector Rosero - Pilla Investments
• Loan Type: Construction
• Loan Terms: 18 months

Hector Rosero represents Pilla Investments in this transaction, marking the firm's entry into high-end residential development with plans for a $3 million estate at the site. The transition involves demolishing the existing home to facilitate the new construction project.