F inancial D igest F eaturing I nvestment /M ultifamily F inancing
M id A tlantic Real Estate Journal — August 2023 — 7A
www.marej.com
EW YORK, NY — In a significant real estate loan transac- The loan aims to refinance a unique 100,000 s/f marketplace in Manhattan Domenico of Progress Capital secures $42.5M loan for Maddd Equities’ Bridgemarket in NYC N
over a century, this designated individual Landmark holds cultural and architectural sig- nificance that is second to none. Established in 1990, Prog- ress Capital stands out as a leading commercial real estate advisory firm, offer- ing a wide range of services to investors and developers. With a remarkable track record of closing over $40 bil- lion in commercial loans and directly funding $150 million in bridge loans, Progress Cap- ital has established itself as a trusted partner for investors and developers alike. Whether you’re a seasoned investor or a newcomer to the real estate industry, Progress Capital is the trusted partner you need to navigate the com- plexities of commercial real estate investments. MAREJ
tion, Brad Domenico , partner of Progress Capital, has successfully arranged a $42.5 mil- lion loan for Maddd Eq-
Brad Domenico
uities, LLC , a New York- based real estate development and investment firm. The loan aims to refinance Bridge- market, a unique 100,000 s/f marketplace situated at the intersection of East 59th St. and First Ave. in Manhattan. Bridgemarket’s esteemed commercial tenants including Gustavino’s, TJ Maxx, Ship Essentials, and Trader Joe’s,
Bridgemarket
Nestled in the heart of New York City, Bridgemarket stands as an iconic and vibrant mar- ketplace, offering a plethora of shopping experiences for both residents and visitors. With a captivating history that spans
form the foundation of its vi- brant commercial landscape. By combining elegance, val- ue, convenience, and quality, these tenants have established Bridgemarket as a go-to desti- nation for urban dwellers seek-
ing a diverse range of options “Bridgemarket is more than just a marketplace, it’s where history, culture, and commerce converge, making it a destina- tion of choice for both residents and visitors.” – Brad Domenico
Stewart, Morris, and Villamagna of Cronheim Mortgage arrange $13,100,000 for New Jersey Retail Properties
ROSELLE AND ELIZA- BETH, NJ — Cronheim Mortgage arranged $13.1
million in fi - nancing for two shop- ping centers located in Roselle and Elizabeth. A n d r e w Stewar t , Dev Morris, and Allison Villamag- na secured the 10-year interest-only financing on behalf of an affiliate of NJ-based Color Man- agement. C o l o r
Andrew Stewart
Dev Morris
Plaza is a 49,309 s/f retail prop- erty located in Elizabeth, NJ, just min- utes from I-95, Newark International Airport, and the Allison Villamagna
Roselle Commons
Port of Newark. At closing, the Subject was fully leased to a diverse mix of 12 tenants, with several tenants having been in occupancy since the 90’s. The subject property is anchored by Seabras, a Por-
tuguese market, and CVS. The property has experienced low vacancy rates given its strategic location in one of the densest neighborhoods. Elizabeth has a population of 137,298 residents.
Roselle Commons is a 50,142 s/f shopping center that is lo- cated on the north side of E. 1st Avenue in Roselle, less than two miles from Color Plaza. The property was developed in 2004 and was 100% leased at closing
to 18 tenants including Pep Boys, Green Grocer, Quest Di- agnostics, GNC, and T-Mobile, among many others. The site is shadow anchored by Home Depot, and ShopRite is less than half a mile away. MAREJ
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