Construction Loan Amount $20,500,000
The property is approximately 2 miles from the Harrison Path Station, 3 miles from Newark Penn Station, 5 miles from Jersey City’s Journal Square, and 10 miles from either Newark Liberty International Airport or Lower Manhattan. The site is in proximity to Interstates 95, 280, and 78, which provide convenient access from the Property to points throughout the broader New York metropolitan area. Additionally, the subject property is located across the street from Gunner Oval Municipal Sports Complex which underwent a $23 million renovation in 2019. The property has approved plans to build a five-story, 123,938-square-foot multifamily property with a two-story parking garage.