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» $2.1 Million Mixed-Use, New York, NY

Posted by Loan Closed


This mixed-use building in New York, NY includes two residential units and one ground floor commercial space totaling 3.3K square feet. 

Our borrower recently entered into a new restuarnant lease for the first floor and basement. As part of this new lease, the landlord is responsible for tenant improvements of approximately $500K. Avatar was able to quickly provide the capital needed to refinace the existing debt on the property -and- fund the entire tenant improvement allowance so that the landlord and tenant could move forward with the lease obligation. 

  • Loan Amount: $2,100,000
  • Interest Rate: 8.99%
  • Term: 24 months
  • LTV: 58%

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