Kennedy Funding Closes $2.85M Land Loan for South Orange New Jersey Mixed-Use Development on Irvington Avenue

Kennedy Funding Closes $2.85M Land Loan for South Orange New Jersey Mixed-Use Development on Irvington Avenue

Kennedy Funding, a leading global direct, private lender, closed a $2.85 million loan for a planned mixed-use development in a rapidly growing North Jersey municipality. The lender closed the land loan at a 55% loan-to-value (LTV) ratio against two parcels totaling 2.20 acres located at 270 Irvington Avenue and 299 Irvington Avenue in South Orange, […] The post Kennedy Funding Closes $2.85M Land Loan for South Orange New Jersey Mixed-Use Develop…

61-Unit 'The Peaks' Development on Irvington Avenue Secures Financing

A stalled development at 270 and 299 Irvington Avenue in South Orange has closed on a $2.85 million loan and appears to be moving forward after being stalled for two years. The Peaks — approved as a 60-apartment mixed-use development at two locations on Irvington Avenue in South Orange — stalled in 2023 following the illness and death of the previous developer Sayid Nagim, who owned the two properties involved. Kennedy Funding, a “global direct,…