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» $3.4 Million - Two Multifamily Properties - Brooklyn, New York

Posted by Loan Closed

Multifamily New York

Our sponsor is an experienced real estate developer who specializes in repositioning multifamily properties. The current loans for the latest project were due in full and additional time was needed to complete the rehabilitation of one property and stabilization of a second property prior to obtaining conventional financing. Avatar was able to refinance the loan on each property and provide the remaining funds and time needed to successfully stabilize the property and complete the renovation as planned.

  • Loan Amount: $3,400,000
  • Broker's Commission: $34,000
  • LTV: 75%
  • Interest Rate: 8.25%
  • Term: 12 months

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