- Loan Amount: $4,200,000
- Broker's Commission: $82,000
- LTV: 46%
- Interest Rate: 8.99% charged to borrower
- Term: 2 years
Description
Avatar provided a $4.2 million commercial bridge loan for two marinas in Lavallette and Lanoka Harbor, New Jersey. The Lavallete collateral includes the administration office, shop, boat ramp, restaurant and 231 wet slips. The Lanoka collateral includes 92 boat slips, 8 service slips, a clubhouse, marine office & store, fiberglass and canvas shop, a workshop, and a service shop. Avatar’s loan refinanced the existing debt and provided $1,000,000 for predevelopment and soft costs for a new condominium project adject to the Lavallette marina.
- Loan Type: Commercial Bridge
- Loan Amount Range: $1M - $4.99M
This style property is located in Lavallette is currently and has been listed on Avatar Financial Group. This property is listed at . It has bedrooms, bathrooms, and is . The property was built in year.
RECENT CLOSINGS
