Representative Loans

Home Representative Loans

Property Description – Bushwick, Brooklyn, NY

  • Total Loan Amount: $300,000.00
  • Disbursed As: Partial acquisition/construction
  • Lien Position: First Lien
  • Issue Date: 1/15/2013
  • Satisfaction Date: 5/9/2013
  • Selling Price: $784,000.00
  • Property Type: Multi-Family
  • Year Built: 1899
  • Lot Size: 1775 sq ft
  • Description: 2 Units and a basement
  • Gross Square Feet: 2289 sq ft
  • General Description: Client acquired the property in a short sale; they renovated the property and sold it approximately 3 months later.

Property Description – Prospect Heights, Brooklyn, NY

  • Total Loan Amount: $495,000.00
  • Disbursed As: Acquisition
  • Lien Position: First Lien
  • Issue Date: 10/15/2012
  • Satisfaction Date: 4/26/2013
  • Selling Price: $1,200,000.00
  • Property Type: Multi-Family
  • Year Built: 1931
  • Lot Size: 15’ x 70’
  • Units: 4
  • Gross Square Feet: 3200 sq ft
  • General Description: Client used funds to pay off an existing 1st mortgage on the property. His exit strategy was to refinance with an institutional lender upon completion of a full renovation of the property. The client ended up selling the property for over $1 Million.

Property Description – Bedford-Stuyvesant, Brooklyn, NY

  • Total Loan Amount: $1,600,000.00
  • Disbursed As: Refinance
  • Lien Position: First Lien
  • Issue Date: 10/18/2010
  • Satisfaction Date: 12/13/2011
  • Refinance Amount: $2,600,000.00
  • Property Type: Multi-Family Apartment Building
  • Year Built: 1910
  • Lot Size: 53’ x 100’
  • Description: 32 Residential units
  • Gross Square Feet: 31,476 Square feet
  • General Description: Client used loan to purchase note ($3,200,000 note negotiated to purchase price of $1,600,000) and perform cosmetic repairs on property. Annual rent roll for this property is $485,000.

Property Description- Bushwick, Brooklyn, NY

  • Loan Amount: $475,000.00
  • Disbursed As: Partial acquisition/construction
  • Lien Position: First Lien
  • Issue Date: 7/1/2014
  • Satisfaction Date: 5/15/2015
  • Selling Price: N/A
  • Property Description:
  • Property Type: Multi-Family
  • Year Built: 1915
  • Lot Size: 17’x 100’
  • Description: 3 Units and a basement
  • General Description: Client purchased the property below market value; they renovated the property and refinanced as part of an umbrella for $1,900,000.