People's Security Bank Provides $9.3M Construction Loan For MultiFamily Property In Maplewood, NJ
1722 Springfield Avenue
MultiFamily
33,297 SF
33,297 SF
Financed 1 year ago
Summary
The multi-family property located at 1722 Springfield Avenue in Maplewood, NJ has undergone a recent closed transaction. With a total square footage of 33,297 and a total of 30 units, this property offers a promising investment opportunity.
Summary of Transaction Details
- Property Type: MultiFamily
- Transaction Amount: $9,300,000
- Address: 1722 Springfield Avenue, Maplewood, NJ
- Market: Maplewood, NJ
- Lender: People's Security Bank
- Landlord: Benjamin Nigri - Equity Management
- Brokers: David May & Evan Boles - Progress Capital
- Loan Type: Construction
- Loan Terms: 6.5% Fixed Rate
Benjamin Nigri of Equity Management served as the landlord in this transaction. The loan for this deal was provided by People's Security Bank, with a loan amount of $9,300,000. The loan type was construction and it carried a fixed interest rate of 6.5%. Representing the buyer and seller in this transaction were David May and Evan Boles of Progress Capital.
Players
Details
View on map
Loading...
1722 Springfield Avenue
Comparables
Reset filters to show results.
Contact
Get in touch with the broker you want