Progress Capital Arranges $14 Million in Refinancing for Trio of Hoboken Properties

Hoboken, NJ Brad Domenico and Frank Stanislaski of Progress Capital arranged $14 million in refinancing for a client’s commercial real estate property portfolio consisting of three mixed-use properties. 

Valley National Bank provided the financing accompanied by favorable terms including a 2-year interest only period. Domenico said, “Valley National Bank was able to provide aggressive but flexible terms for the borrower and his team to complete their business goal – It was a Win-Win deal!” 

The locations of the properties include 1327 Willow Ave., 221 Washington St., & 1224 Washington St.  The properties combined contain a total of 4 commercial units and 40 residential apartments, ranging from 1 to 4 bedrooms.

The buildings are situated in the best areas of Uptown Hoboken with easy access to numerous forms of public transportation, including the Hoboken Path, as well as the 126 Bus which offers easy access to New York City. Hoboken Bike and Lime scooters are also available on almost every corner making local transportation more convenient for local residents