FINANCED
Arbor Commercial Mortgage Provides $15.25M Loan For Jersey City Multifamily Portfolio
150 & 154 Belmont Avenue, 201-203 Claremont Avenue, 33-35 Storms Avenue, 35 Kensington Avenue & 590 Bergen Avenue
MultiFamily
Summary
Loan
NEW JERSEY
MultiFamily
A 134-unit multifamily portfolio in Jersey City, NJ has recently been involved in a closed transaction. The properties are located at 150 & 154 Belmont Ave., 201-203 Claremont Ave., 33-35 Storms Ave., 35 Kensington Ave., and 590 Bergen Ave. The deal was facilitated by Arbor Commercial Mortgage as the lender. The landlord of the portfolio is Amir Ben-Yohanan and Abraham Gagin. The mortgage broker for the transaction was Brad Domenico from Progress Capital, while Niko Nicolaou from Gebroe-Hammer acted as the seller's broker.
Summary of transaction details
- Property Type: 134-Unit Multifamily Portfolio
- Transaction Amount: $15,250,000
The loan obtained for the acquisition financing amounted to $15,250,000. The loan terms include a 5-year interest-only period and a non-recourse basis. The transaction took place on 08/11/2021 in Jersey City, NJ.
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Details
FINANCED
IMAGE: Brad Domenico
DATE: 08/11/2021
ADDRESS: 150 & 154 Belmont Ave., 201-203 Claremont Ave., 33-35 Storms Ave., 35 Kensington Ave. & 590 Bergen Ave.
MARKET: Jersey City, NJ
ASSET TYPE: 134-Unit Multifamily Portfolio
LENDER: Arbor Commercial Mortgage
LANDLORD: Amir Ben-Yohanan & Abraham Gagin
MORTGAGE BROKER: – Brad Domenico (@Domenico317) - Progress Capital (@Progress.Capital)
SELLER’S BROKER: Niko Nicolaou (@Niko_Nicolaou) - Gebroe-Hammer
LOAN AMOUNT: $15,250,000
LOAN TERMS: 5-Years I/O on a Non-Recourse basis
LOAN TYPE: Acquisition FinancingView on map
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Address150 & 154 Belmont Avenue, 201-203 Claremont Avenue, 33-35 Storms Avenue, 35 Kensington Avenue & 590 Bergen Avenue
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