BridgeCity Capital Provides $13.2M Construction Loan For Queens Development Site

A development site located at 138-25 Barclay Avenue in Queens has recently secured a construction loan. The property spans over 12,285 square feet and is situated in the Queens market. The loan was provided by BridgeCity Capital for a total amount of $13,200,000. The loan terms include a 24-month duration with extension options based on a loan-to-cost ratio (LTC) of 75%.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $13,200,000
• Address: 138-25 Barclay Avenue
• Market: Queens
• Size: 12,285 square feet

BridgeCity Capital, a lending institution actively involved in financing various projects, including mixed-use, residential, industrial, and construction projects in the Tri-State Area, South Florida, and other states, provided the construction loan for this development site. For more information on their services, visit their website at www.bridgecityfunding.com or contact Louis at [email protected].