Multifamily Development in Roselle Park, NJ
Loan Amount$65 million
Greystone has arranged a $65 million construction loan for Capodagli Property Company. The construction loan was provided by ACORE Capital (“ACORE”), a leading commercial real estate finance company and debt fund manager, to finance a to-be-developed multifamily project totaling 325 multifamily units, 16,000 square feet of retail, and a 518-space parking garage, located at 10 Westfield Avenue West in Roselle Park, NJ.
The development is conveniently located less than 20 miles from New York City and is designed to appeal to young professional renters by providing a high-quality product at competitive prices. Capodagli will deliver a comprehensive amenity package including a courtyard, fitness center, meeting rooms, and lounge.