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Condominium Development

West NY / Guttenberg, NJ

Condo - Construction

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West NY / Guttenberg, NJ

Condominium Development

CONDO - CONSTRUCTION

ACRES added another condominium to its portfolio of properties with the funding of a $10.5 million loan for the acquisition and construction completion of a 39-unit building. The residential development will feature the following:

  • 32,309 saleable square feet
  • Lobby/mailroom
  • A two-level, 39-space parking garage
  • Rooftop indoor/outdoor community clubhouse with a theater, kitchen and deck space

The town of Guttenberg is located in the Gold Coast area of New Jersey, with easy access to transportation via bus, ferry, or light rail into the Upper West Side of Manhattan.

The sponsors are planning on capitalizing on this comparably affordable development by catering to a young working professional in the early stages of their career.

$10.5 Million

Loan Amount

18 Months

Loan Term

Construction Loan

Loan Product

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