September 11, 2019
JBA Equities secured a $55.5-million construction loan for 8701 Churchill Rd., a 14-story, 70-unit condominium project in North Bergen, NJ. The financing was provided by Mosaic Real Estate Investors.
Company founder Jonathan Aghravi—a recent Connect Media Next Generation Awards honoree—originated the construction loan on the ground-up project. Along with Eli Terry and Charles Han, Aghravi (pictured) represented the borrower, Skyline Development Group, led by Louis Mont.
Mont acquired the development site for $10.2 million. It was delivered with fully-approved condo plans in February 2019, with acquisition financing also facilitated by JBA Equities.
“It’s no secret Hudson County has become a hotbed of residential development and a sought-after location for both New York metro area buyers and renters,” said Mont. “Our goal is to provide not only a beautifully-appointed luxury home, but also a lifestyle opportunity not commonly found in other Gold Coast buildings.”
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