Equitas Capital Group Arranges $35M Construction Loan For Mixed-Use Property

The transaction involves a mixed-use property located in New York City, with a construction loan amount of $35,000,000 provided by Ponce Bank. The loan features a loan-to-cost ratio of 70%, a term of 30 months with the option for one 12-month extension, and is structured as interest-only payments without any prepayment penalties.

Summary of transaction details:

• Property Type: Mixed-Use
• Transaction Amount: $35,000,000
• Lender: Ponce Bank
• Loan Type: Construction
• Loan Terms: LTC: 70%; Term: 30 months + (1) 12 month extension; Amm: Interest Only; Prepay: None
• Market: New York City
• Broker Representatives: Alex Leykind & Michael Fey - Equitas Capital Group & Slavik Yuniver

Equitas Capital Group arranged the acquisition financing for the property in June 2021, demonstrating their expertise in the construction process by collaborating closely with lenders and engineers to support clients throughout the loan's term. The firm specializes in providing tailored solutions for commercial real estate financing, focusing on building strong client relationships to better understand their individual needs and challenges.