PARSIPPANY, NJ—NorthMarq has arranged first mortgage refinancing of approximately $33.4 million for three separate affordable housing properties containing a combined total of 241 units throughout Hudson County, N.J.
These transactions include:
- Approximately $15.7 million forEastview Apartments a 79-unit property located at 58-72 Washington Street in Hoboken.
- $8.9 million for New Floral Gardens 1A, a 91-unit property located at 2515-2517 Cottage Ave. in North Bergen.
- $8.8 million for Park View East Apartments, a 71-unit property located at 4300 Park Ave. in Weehawken.
Financing for these transactions was based on a 10-year term and a 30-year amortization schedule. NorthMarq arranged this financing through its relationship with a local bank.