329 Alfred Avenue
Update
01/08/24
Developer Lands $74.2M Loan for Teaneck Multifamily Project
Developer and general contractor, , recently obtained a $74.2 million loan for a 6-story, multifamily project, going up at 329 Alfred Avenue in Teaneck, New Jersey. Issued by Bank of America, this influx of capital is being used to fund all construction costs.
Designed by , the building is set to contain rental apartments. Approximately 38 of these units will be reserved for affordable housing.
Tenant amenities are to include a fitness center, a swimming pool, a community room, a business center, and a game room. Plans also call for an enclosed parking garage, as well as EV charging stations.
The building will total over 250,000 square feet. Construction is currently in the interior finishing stage, and the project is expected to complete in the first half of this year.
