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Century Capital has just funded a $5 million acquisition loan to help purchase a large development property in the City of Orange, NJ. The borrower, an experienced NY-based developer with a proven track record of successful projects, plans to begin master planning the transit-oriented site located at 188 South Essex Street in Orange, NJ and prepare for a phased development. The City of Orange welcomes the improvement as a development of this scale will reinvigorate the local economy.

The property is a deserted hospital with seven standing buildings on 8.5 acres of land in the most desired area of Orange NJ.

A broker’s fee of $50,000 was paid at the closing

Century Capital Partners, a New Jersey asset-based lending company, recently closed on a $7,700,000 construction loan in a top Manhattan location. The proposed development will consist of five residential full floor condos of 7,815 square feet and one retail condo. A broker’s fee of $77,000.00 was paid at closing.