BridgeCity Capital Provides $10M Bridge Loan For Development Site In Brooklyn

A development site located at 808 Metropolitan Avenue in Brooklyn has secured a $10,000,000 bridge loan from BridgeCity Capital. The loan terms are set at 12 months with a loan-to-value ratio (LTV) of 26%. The property, owned by Joel Heshkowitz, is set to undergo mixed-use, residential, industrial, or construction projects.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $10,000,000
• Lender: BridgeCity Capital - Pinny Loketch & Allan Lebovits
• Landlord: Joel Heshkowitz
• Loan Type: Bridge
• Loan Terms: 12 Months: LTV 26%

BridgeCity Capital, represented by Pinny Loketch & Allan Lebovits, actively finances projects in various states, including the Tri-State Area and South Florida. For those interested in obtaining a loan, more information can be found on their website at www.bridgecityfunding.com or by sending loan inquiries to [email protected].