Bank Leumi Provides $30M Loan For Mixed-Use Development In Jersey City | 136 Summit Avenue | Bank Leumi | Brad Domenico | Mixed-use | Loan

Summary

Loan

NEW JERSEY

Mixed-use

159,861 sqft

The development of a mixed-use building at 136 Summit Avenue in Bergen Hill, Jersey City, NJ has secured a $30,000,000 construction loan from Bank Leumi. The project will consist of 99 apartments, 2,240 square feet of retail space, and a parking garage with a capacity for 75 vehicles. Once completed, this will be the largest development south of Montgomery Street in Jersey City and the largest in Bergen Hill.

Summary of transation details

Property Type: Mixed-use
Transaction Amount: $30,000,000
Market: Bergen Hill, Jersey City, NJ

Brad Domenico from Progress Capital represented the borrower in securing the loan from Bank Leumi for the development project at 136 Summit Avenue.

Players

All
3

Agents
1
Agencies
1
Lenders
1

$735.9M Sold

Details

Deal Summary

FINANCED

IMAGE: Brad Domenico DATE: 02/08/2021 ADDRESS: 136 Summit Avenue MARKET: Bergen Hill, Jersey City, NJ ASSET TYPE: Mixed-use LENDER: Bank Leumi BROKER: Brad Domenico @domenico317 - Progress Capital @progress.capital LOAN AMOUNT: $30,000,000 NOTE: $30,000,000 Construction Loan for the development of a mixed-use building that will yield 99 apartments, along with 2,240 square feet of retail, and a parking garage with capacity for 75 vehicles. Once complete, it will become the largest development south of Montgomery Street in Jersey City and the largest in Bergen Hill.

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Address136 Summit Avenue

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