TD Bank Provides $2.3M Refinance Loan For Multifamily Property In East Orange, NJ

The loan for the multifamily property located at 264-270 South Harrison Street and 76 East Park Street in East Orange, NJ, was recently refinanced. The borrower, Maria Mercado Gross, secured a loan from TD Bank for an amount of $2,300,000. The loan terms include a 10-year fixed rate, a 30-year amortization period, and an interest rate of 2.64%.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $2,300,000
• Loan Type: Refinance
• Lender: TD Bank
• Landlord: Maria Mercado Gross
• Brokers: Frank Stanislaski from Progress Capital

The deal was facilitated by Frank Stanislaski from Progress Capital, representing the borrower Maria Mercado Gross, and Gabby Cali, also from Progress Capital. The loan provides favorable terms to the borrower, with a low interest rate and a long-term fixed rate, allowing for stable financial planning.