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Signature Bank Provides $23M Acquisition Loan For Legacy Lofts In Bayonne

676-684 Avenue East - Legacy Lofts
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This MultiFamily property located in NJ received a loan of $23,000,000 over 1 year ago. The brokers of the deal were Jacob Schmuckler and Meir Schlusselberg

The Legacy Lofts, located at 676-684 Avenue E in Bayonne, is a multifamily property with 71 units and a total square footage of 133,350. The property was acquired through a loan transaction.

Summary of transaction details

The loan of $23,000,000 for the acquisition of Legacy Lofts was provided by Signature Bank. Representing the deal were Jacob Schmuckler and Meir Schlusselberg from Meridian Capital Group.

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Deals
  • Location
    676 Avenue East, Bayonne, New Jersey 07002, United States676 Avenue East, Bayonne, New Jersey 07002, United States
  • Loan Value
    $23,000,000$23,000,000
  • Asset Type
    MultiFamilyMultiFamily
  • Parties
    2 Brokers, 1 Agency, 1 Lender2 Brokers, 1 Agency, 1 Lender

Agents

Jacob Schmuckler

Jacob Schmuckler

Deals12
Financed$584M

Agency

Meridian Capital Group

Meridian Capital Group

Agency
Deals2414
Volume$65.9B

Signature Bank

Signature Bank

Lender
Deals89
Volume$ 293.9B

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Deal Summary

LOAN IMAGE: Jacob Schmuckler & Meir Schlusselberg DATE: 07/01/2022 ADDRESS: 676-684 Avenue E - Legacy Lofts MARKET: Bayonne ASSET TYPE: Multifamily ~ UNITS: 71 ~ SF: 133,350 LENDER: Signature Bank BROKERS: Jacob Schmuckler & Meir Schlusselberg (@MeirSchluss) - Meridian Capital Group (@Meridian.Capital.Group) LOAN AMOUNT: $23,000,000 LOAN TYPE: Acquisition LOAN TERM: 3.875% with multiple years IO

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676-684 Avenue East - Legacy Lofts

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