Elliot Horowitz And Maximum Capital Group Provide $5.75M Loan For Development Site In Hempstead

The asset involved in this transaction is a residential development site located at 257 Main Street in Hempstead, New York. The property spans 1.7 acres and comprises a building size of 73,000 square feet with a base square footage of 158,000. The loan amount associated with this site is $5,750,000, designated for acquisition purposes.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $5,750,000
• Address: 257 Main Street
• Market: Hempstead
• Asset Size: 1.7 acres
• Building Size: 73,000 SF
• Base Square Footage: 158,000 BSF
• Lender: Elliot Horowitz, Josh Greene & Adam Glick - Maximum Capital Group
• Landlord: Rashid Walker & Austin Walker
• Loan Type: Acquisition

The transaction has been completed in partnership with 141 Funding LLC. The sponsorship team, led by Rashid Walker of First Street Companies and Austin Walker of A. Walker & Co., brings significant development experience to this project, which aims to create 173 apartments along with ample parking and a complete amenities package.