Equitas Capital Group Arranges $6.6M Construction Loan For Bronx Mixed-Use Property

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].