Cathay Bank Provides $11.8M Construction Loan for Northern New Jersey Multifamily Project
WEST NEW YORK, N.J. — Cathay Bank has provided an $11.8 million construction loan for a 48-unit multifamily project in West New York, located across the Hudson River from Manhattan. The property will offer one- and two-bedroom units with an average size of 847 square feet. Matthew Pizzolato, Max Custer, Gerard Quinn and Salvatore Buzzerio of JLL arranged the three-year, floating-rate loan on behalf of the undisclosed private developer of the project. A tentative completion date was not disclosed.