Chetrit Group Secures $55M Loan For Fort Lee Mixed-Use Property With Starwood Mortgage Capital

The property at 2 Executive Drive in Fort Lee is the subject of a recent loan transaction. The mixed-use asset, spanning 290,000 square feet, has caught the attention of industry professionals. The loan, dated March 14, 2023, amounted to $55,000,000 and was provided by Starwood Mortgage Capital. This significant financing will pave the way for further development and growth in the area.

Summary of transaction details

• Property Type: Mixed-use
• Transaction Amount: $55,000,000
• Address: 2 Executive Drive
• Market: Fort Lee
• Square Footage: 290,000

The loan transaction was facilitated by Henry Bodek from Galaxy Capital, who acted as the broker in this deal. Representing the landlord, Joseph Chetrit of the Chetrit Group played a key role in the negotiations. With the loan in place, the future of this property development is bright, attracting attention from both investors and potential tenants in the industry.