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» $1.5 Million - Mixed Residential & Commercial, Brooklyn, NY

Posted by Loan Closed

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Our Borrower purchased the property, a 3,300 sq ft mixed use building, for $2,400,000 in October of 2018. The purchase was all cash which left the property free and clear. Our Borrower needed access to the equity in the property to use in acquiring another investment property that came available. Avatar was able to provide the capital needed, allowing the borrower to use the cash locked into this property and close on the new investment opportunity. 

  • Loan Amount: $1,500,000
  • Interest Rate: 8.5%
  • Term: 24 months
  • LTV: 58%



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