FINANCED
Equitas Capital Group Arranges $6.6M Construction Loan For Bronx Mixed-Use Property
3073 Barker Ave, Bronx, Ny 10467
Mixed-use
24,426 SF
24,426 SF
Financed 1 year ago
Summary
Loan
NEW YORK
Mixed-use
24,426 sqft
The mixed-use property located in Bronx with a total square footage of 24,426 has undergone a closed transaction. The loan for this property was provided by Equitas Capital Group.
Summary of transaction details
- Property Type: Mixed-Use
- Transaction Amount: $6,565,000
- Market: Bronx
- BROKERS: Michael Fey & Alex Leykind - Equitas Capital Group
Equitas Capital Group offered a construction loan for the property. The terms of the loan include a rate of WSJ Prime + 1%, loan-to-cost ratio of 75%, a term of 18 months with a potential 6-month extension, interest-only amortization, and no prepayment penalty.
Equitas Capital Group specializes in construction loans and goes beyond arranging financing. They understand the construction process and work closely with their lenders and engineers to ensure a smooth requisition/draw process for their clients. For more information, interested parties can contact Equitas Capital Group at 646-637-7510 or email [email protected].
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3
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Agencies
1
Details
FINANCED
IMAGE: Alex Leykind & Michael Fey
DATE: 03/15/2023
MARKET: Bronx
ASSET TYPE: Mixed-Use ~ SF: 24,426
BROKERS: Michael Fey (@MichaelFey_CRE) & Alex Leykind (@AlexLeykind1) - Equitas Capital Group (@EquitasCapitalGroup)
LOAN AMOUNT: $6,565,000
LOAN TYPE: Construction
LOAN TERMS: Rate: WSJ Prime + 1%; LTC: 75%; Term: 18 Months + (1) 6 Month Extension; Amortization: Interest Only; Prepayment: NONE
NOTEFROM BROKER: When it comes to construction loans, Equitas Capital Group does more than just arrange the financing. Equitas Capital Group understands the construction process. We work together with our lenders and their engineers to facilitate our clients throughout the term of their construction loan to ensure that the requisition/draw process is quick and efficient. 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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Address3073 Barker Ave, Bronx, Ny 10467
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