FINANCED
Equitas Capital Group Arranges $35M Construction Loan For Mixed-Use Property
Equitas Capital Group brokers loan for $35,000,000 in New York City
Development Site
Financed 308 days ago
Summary
Loan
NEW YORK
Development Site
Ponce Bank has provided a construction loan of $35,000,000 for a mixed-use property located in New York City. The loan was arranged by Equitas Capital Group, with brokers Alex Leykind and Michael Fey representing the firm. The loan terms include a loan-to-cost ratio (LTC) of 70%, a term of 30 months with the option for a 12-month extension, interest-only amortization, and no prepayment penalty.
Summary of transaction details
- Property Type: Mixed-Use
- Loan Amount: $35,000,000
- Loan Type: Construction
- LTC: 70%
- Term: 30 months + (1) 12 month extension
- Amortization: Interest Only
- Prepayment Penalty: None
Equitas Capital Group, the arranging firm for the loan, specializes in finding customized solutions for commercial real estate financing needs. They work closely with lenders and engineers to support clients throughout the construction loan process. As a relationship-oriented firm, Equitas Capital Group invests time and resources in understanding the individual needs and challenges of their clients, ensuring personalized service.
For more information on financing commercial properties, interested parties can contact Equitas Capital Group at 646-637-7510 or via email at [email protected].
Players
All
5
Agents
3
Agencies
1
Lenders
1
Details
FINANCED
IMAGE: Slavik Yuniver, Michael Fey, Alex Leykind, Doug Romero, Yanni Kouzilos & Nelly Franceschini
DATE: 06/23/2023
MARKET: New York City
ASSET TYPE: Mixed-Use
LENDER: Ponce Bank (@PonceBank)
BROKERS: Alex Leykind (@AlexLeykind1) & Michael Fey (@MichaelFey_CRE) - Equitas Capital Group (@EquitasCapitalGroup) & Slavik Yuniver
LOAN AMOUNT: $35,000,000
LOAN TYPE: Construction
LOAN TERMS: LTC: 70%; Term: 30 months + (1) 12 month extension; Amm: Interest Only; Prepay: None
NOTE FROM BROKER: Equitas Capital Group arranged the acquisition financing of the subject property back in June 2021.
When it comes to construction loans, Equitas Capital Group does more than just arrange financing. Equitas Capital Group understands the construction process from pre-development to finish. We work together with our lenders and their engineers to facilitate our clients throughout the term of their construction loan.
Equitas Capital Group specializes in finding tailor-made solutions to your Commercial Real Estate Financing needs. As a relationship-driven firm, we invest time and resources in our clients, understanding their needs and challenges, and viewing each loan from their individual perspective.
Please reach out to Equitas Capital Group to learn how we can help you finance your next commercial property at 646-637-7510 or email [email protected]View on map
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AddressEquitas Capital Group brokers loan for $35,000,000 in New York City
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