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
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