NEW JERSEY—Hudson Realty Capital LLC has funded a $9 million first-mortgage construction loan involving a partially completed condominium development in Bergen County, N.J. The loan proceeds are being used by the borrower to complete construction of 34 condo units and 10 attached and semi-attached townhomes in Northvale.
“Because of this borrower’s proven track record and our market expertise, Hudson is able to offer swift, reliable execution to facilitate the completion of construction and sale of the remaining units,” said Spencer Garfield, managing director.
Comprised of 10 elevator buildings with a total of 88 residential condo units, the complex includes a clubhouse, fitness center, outdoor heated pool, 240 parking spaces and 1.4 acres with walking paths.
