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Brooklyn

BridgeCity Capital Provides $7,400,000 Construction Loan For 5 Luxury Condominium Units In Greenpoint
FINANCEDCondo

BridgeCity Capital Provides $7,400,000 Construction Loan For 5 Luxury Condominium Units In Greenpoint

$7,400,000

Building Size

Asset Type

Condo

Closing

Jul 7, 2026

AI

The asset involved in this transaction consists of five luxury condominium units located in Greenpoint, Brooklyn. The total loan amount for this development project is $7,400,000. The financial support is provided as a construction loan with terms set for 18 months along with options for extensions. The loan-to-cost ratio is 80%.

Summary of transaction details:

  • Property Type: Luxury Condominium Units
  • Transaction Amount: $7,400,000
  • Lender: BridgeCity Capital
  • Loan Type: Construction
  • Loan Terms: 18 months + extension options
  • LTC: 80%
  • Market: Greenpoint, Brooklyn

BridgeCity Capital is funding diverse projects across the Tri-State Area and South Florida, among other locations. Louis Lebovits serves as the point of contact for loan inquiries through the provided email address.

Players

Louis Lebovits

BridgeCity Capital

Lender

$1.5B

vol

52 deals

Lender
BridgeCity Capital
BridgeCity CapitalLender

Market Condo Market Snapshot

Boundary boundary · Condo · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

2.14%

Cash-on-Cash

-0.61%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93