- Loan Amount: $12,645,000
- Loan Term: 24 Months
- LTV: 70%
Multifamily Property In Brooklyn, NY
- Loan Type:
- Bridge Loan
- Loan Amount:
- Loan Term:
- 1 YR
- Interest Only
• This is a new development property that sits in the gentrified Greenpoint neighborhood.
• Due to vacancies and delays in construction the borrower was looking to reduce their rate by taking out their current lender.
• This one-year, interest only, fixed rate term loan was structured to provide further capital to complete construction and fill vacancies in the complex.
• We were able to provide surety of execution and give them the time to stabilize the property.
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