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Spencer Savings Bank Provides $9.8M Construction Loan For Multifamily Property At 70 Fisk St, Jersey City

70 Fisk Street
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This MultiFamily property located in NJ received a loan of $9,775,000 over 1 year ago. The brokers of the deal were Max Custer and Thomas E. Didio, Jr

The multifamily property located at 70 Fisk Street in Jersey City has recently undergone a closed transaction. This property consists of 44 units, making it an attractive investment opportunity in the market.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $9,775,000
  • Address: 70 Fisk Street, Jersey City
  • Market: Jersey City
  • Lender: Spencer Savings Bank
  • Landlord: 70 Fisk, LLC
  • Brokers: Max Custer & Thomas E. Didio, Jr. from JLL Capital Markets
  • Loan Type: Construction Loan
  • Loan Terms: 2.5-year, floating-rate

The financing for this transaction was provided by Spencer Savings Bank in the form of a construction loan. Max Custer & Thomas E. Didio, Jr. from JLL Capital Markets represented the buyer in this deal, 70 Fisk, LLC. This loan offers flexibility with a floating rate over a period of 2.5 years, catering to the needs of the project.

View Related

Deals
  • Location
    70 Fisk Street, Jersey City, New Jersey 07305, United States70 Fisk Street, Jersey City, New Jersey 07305, United States
  • Loan Value
    $9,775,000$9,775,000
  • Asset Type
    MultiFamilyMultiFamily
  • Parties
    2 Brokers, 1 Agency, 1 Lender2 Brokers, 1 Agency, 1 Lender

Agents

Max Custer

Max Custer

Deals23
Financed$556.8M

Thomas E. Didio, Jr

Thomas E. Didio, Jr

Deals25
Financed$1.3B

Agency

JLL

JLL

Agency
Deals5579
Volume$332.6B

Spencer Savings Bank

Spencer Savings Bank

Lender
Deals22
Volume$ 23.7B

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Deal Summary

LOAN IMAGE: Max Custer & Thomas E. Didio, Jr DATE: 08/12/2022 ADDRESS: 70 Fisk Street MARKET: Jersey City ASSET TYPE: Multifamily ~ UNITS: 44 LENDER: Spencer Savings Bank LANDLORD: 70 Fisk, LLC BROKERS: Max Custer & Thomas E. Didio, Jr. - JLL Capital Markets LOAN AMOUNT: $9,775,000 LOAN TYPE: Construction Loan LOAN TERMS: 2.5-year, floating-rate

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70 Fisk Street

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