Procida Funding & Advisors acquires two 1st mortgages totaling $4 million

Procida Funding & Advisors, LLC has acquired two 1st mortgages totaling $4 million secured by two properties in northern New Jersey. The two first mortgages were cross collateralized and secured by a development site in Hoboken and a partially complete condominium project on River Rd. in North Bergen. The Hoboken development site has been approved for 46 residential units, 1435 s/f of commercial space and 32 parking spaces. The North Bergen site is 90% complete and consists of eight units comprised of four, two-bedroom units and four, one-bedroom units.