BridgeCity Capital Provides $23 Million Construction Loan For Luxury Condominium In Greenpoint Brooklyn

The asset involved in this transaction is a luxury condominium comprising 16 units situated in Greenpoint, Brooklyn. The construction loan associated with this property is for a total amount of $23,000,000, with terms set for 24 months and options for extension, and a loan-to-cost ratio of 80%.

Summary of transaction details:

• Property Type: Luxury Condominium
• Transaction Amount: $23,000,000
• Market: Greenpoint Brooklyn
• Lender: BridgeCity Capital
• Loan Type: Construction
• Loan Terms: 24 months + extension options
• LTC: 80%
• Lender Representatives: Louis Lebovits, Allan Lebovits, Moishe Loketch & Pinny Loketch

BridgeCity Capital is actively financing various projects in the Tri-State Area, South Florida, and other states. The lender's team includes Louis Lebovits, Allan Lebovits, Moishe Loketch, and Pinny Loketch, who play key roles in this financing deal.