Progress Capital partner, Brad Domenico
has secured a $17,250,000 loan for Ohio-based Spring Property Management’s acquisition of a mixed-use building at 125-129 Magnolia Avenue, Jersey City.
The sale of the property
was brokered by Niko Nicolaou, executive
vice president at Gebroe Hammer Associates.
The site contains a five-story 1920’s era building known as 125 Magnolia at Journal Square. The contains 99 units comprised of five ground-floor retail units and 94 apartments. Each of the units have recently undergone high end kitchen and bathroom renovations, as well as the installation of new windows. Some additional building improvements completed include a new roof, upgraded lobby and new contemporary elevator system.
Privacy Overview
This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience. Necessary