Weingarten Group Secures $6.45M Loan For Multifamily Asset In Jersey City NJ

88-94 Tonnele Ave & 618-620 Summit Ave in Jersey City, NJ, was the site of a recent closed property transaction involving a multifamily asset. The deal, which took place on August 7, 2020, attracted the attention of Lakeland Bank, who provided a loan of $6,450,000 to facilitate the purchase.

Summary of transaction details

• Property Type: Multifamily
• Loan Amount: $6,450,000
• Market: Jersey City, NJ
• Landlord: Jeffrey & Scott Weingarten - Weingarten Group

The Weingarten Group, represented by their brokers Brad Domenico from Progress Capital and Niko Nicolaou from Gebroe-Hammer Associates, successfully sealed the deal and secured the loan provided by Lakeland Bank.