Maguire Capital Provides $8.2M Condo Inventory Loan For 33-Unit Package Deal In Rockaway

Paradigm Commercial Real Estate, represented by broker Adrian Edery, facilitated a closed property transaction in Rockaway, involving a package deal consisting of 33 units located at 2310 Johnson Dr. The transaction took place on 06/09/2022.

Summary of transaction details:

• Property Type: Package Deal
• Number of Units: 33
• Loan Amount: $8,200,000
• Loan Type: Condo Inventory
• Loan Terms: 24 Months, Interest-Only, 6 Month Extension, 1% in, 0.5% out, 7% Interest Rate

Maguire Capital provided a loan of $8,200,000 for the transaction. The loan is categorized as a Condo Inventory loan, with a term of 24 months, interest-only payments, and a 6-month extension option. The loan terms include a 1% fee for the loan origination and a 0.5% fee for exiting the loan. The interest rate on the loan is 7%.

Note: The image accompanying this article was posted on the official Instagram account of Adrian Edery.