HARRISON, NJ—NorthMarq Capital's New Jersey based regional office closed a $16.9 million 30-month construction loan for the Cookie Factory, a 104-unit multifamily property to be built on Essex Street in Harrison, NJ.
The development, which is planned for a currently vacant property, is named for the historic presence of a cookie factory on the property some years ago.
“There were a number of lenders interested in providing the financing,” Gary Cohen, senior vice president/senior director of NorthMarq, tells GlobeSt.com exclusively. “There was a lot of demand for this deal and First Niagara Bank structured a competitive loan to win the business. This will be the third or fourth building developed in the area.”
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