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Urby & Panepinto Properties Acquires 317-Unit Multifamily Property In Jersey City For $88.3M

532 Summit Avenue
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This MultiFamily property located in NJ received a loan of $88,340,000 almost 2 years ago. The brokers of the deal were Thomas (Tom) Didio and Thomas E. Didio, Jr

A non-recourse construction-to-permanent loan of $88,340,000 has been secured for a multifamily property located at 532 Summit Ave in Jersey City. The property consists of 317 units and is owned by Urby & Panepinto Properties.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $88,340,000
  • Address: 532 Summit Ave, Jersey City
  • Market: Jersey City
  • Units: 317
  • Landlord: Urby & Panepinto Properties
  • Brokers: Thomas Didio & Thomas E. Didio Jr. - JLL
  • Date: 05/11/2022

JLL brokers Thomas Didio & Thomas E. Didio Jr. represented the parties involved in this deal. Additional details about the terms and conditions of the loan were not provided.

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Deals
  • Location
    532 Summit Avenue, Jersey City, New Jersey 07306, United States532 Summit Avenue, Jersey City, New Jersey 07306, United States
  • Loan Value
    $88,340,000$88,340,000
  • Asset Type
    MultiFamilyMultiFamily
  • Parties
    2 Brokers, 1 Agency2 Brokers, 1 Agency

Agents

Thomas (Tom) Didio

Thomas (Tom) Didio

Deals10
Financed$644.6M

Thomas E. Didio, Jr

Thomas E. Didio, Jr

Deals25
Financed$1.3B

Agency

JLL

JLL

Agency
Deals5591
Volume$332.6B

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Deal Summary

LOAN IMAGE: Thomas Didio & Thomas E. Didio Jr DATE: 05/11/2022 ADDRESS: 532 Summit Ave MARKET: Jersey City ASSET TYPE: Multifamily ~ UNITS: 317 LANDLORD: Urby & Panepinto Properties BROKERS: Thomas Didio & Thomas E. Didio Jr. - JLL (@JLL) LOAN AMOUNT: $88,340,000 LOAN TERMS: non-recourse construction-to-permanent loan

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532 Summit Avenue

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