Jersey City, NJ – Brad Domenico, partner at Progress Capital has secured a $30 million construction loan for the development of a 155-unit multifamily property situated along Communipaw Ave. in Jersey City.
Leveraging his extensive professional connection, Domenico worked with Eric Regenbogen of Arbor Commercial Mortgage to structure a non-recourse construction loan with favorable terms for the borrower, West of Hudson Properties.
The development will be comprised of a 6-story residential apartment complex totaling 155 units. The property will span a sprawling 133,333 s/f of premium living space as well as three commercial units encompassing 3,109 s/f, bringing the perfect blend of living and commerce.
The surrounding neighborhood boasts a diverse array of conveniences, including restaurants, lively nightlife venues, an abundance of retail shops, boutiques, and more.