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$5M construction loan to transform Tenafly Cinema to new mixed-use
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$5M construction loan to transform Tenafly Cinema to new mixed-use
A new construction loan sets up the former Tenafly Cinema for its second showing as a mixed-use rental property. Ariel Property Advisors‘ Capital Service Group arranged $5.2 million in funding to bring a new, 20-unit project to 4.5-5 W. Railroad Ave. in Tenafly. According to the April 9 announcement, the 20,000-square-foot development will feature two retail spaces along with 18 residential apartments, three of them affordable. Ariel said Capita…
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