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New York & Tri-State  + New Jersey  + Finance  |  April 19, 2024
Emily Fu
By: Emily Fu

Bravo Property Trust Provides $46M Loan for NJ Resi 

Bravo Property Trust has provided a $46 million construction loan for a multifamily high-rise under construction along New Jersey’s Gold Coast. The investor group will utilize the funds to finalize the Alora, a 14-story property in Bayonne, which recently reached its construction peak.  

The floating-rate debt transaction was completed on March 29, with a loan-to-cost ratio of 70%. The developer, a partnership among Lior Darel, Gabriel Lazar, and Jimmy Vattes, commenced construction in late 2022, using equity for financing.  

Located at 281-289 Broadway, the project is slated for completion in spring 2025 and will comprise 128 apartments, 2,400 square feet of ground-floor retail space, and a 135-space garage. Additionally, the property will offer amenities including a fitness center, lounge, and playroom. 

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About Emily Fu

Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money. With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.
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