JERSEY CITY-William Procida Incorporated has been retained by Dean Geibel, founder of Hoboken, NJ-based Metro Homes as investment banker and advisor to the Trump Plaza II here as well as Esperanza Asbury Park.
With 50 stories and 418 condo units, Trump Plaza II is the companion to Trump Plaza I, the tallest residential building in New Jersey, which is already completed. Trump Plaza II is located at Greene and Bay streets in Jersey City. In the Jersey Shore town of Asbury Park, the Esperanza is an upscale residential community located on the ocean across from the historic convention center. Procida and his team are working with the current lenders to find non-litigious solutions and entertaining proposals for new capital.
“Both Trump Plaza Jersey City and the Esperanza Asbury Park are ideally located and ready to go with plans and permits,” says Procida. “Perfectly set to take advantage of today’s lower construction costs, these properties are timed for delivery during the next housing cycle.”
Having spent three decades in real estate, Procida has experience on both sides of a transaction, with 10 years as a lender under his belt, 15 as a developer and the past five as a restructuring advisor. “The courts are slow, unpredictable and costly. Better solutions can be achieved outside of the courtroom when smart, reasonable businesspeople put their heads together,” Procida tells GlobeSt.com.
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