Lancewood Capital Provides $5.2M Bridge Loan For Mixed-Use Property Acquisition & Renovation At 317 East 5th Street In East Village

The property involved in this closed transaction is located at 317 East 5th Street in the East Village. It is a mixed-use property. The transaction took place on October 24, 2018. The property was sold to an undisclosed buyer.

Summary of transaction details:

• Property Type: Mixed Use
• Transaction Amount: $5,200,000
• Lender: Lancewood Capital
• Landlord: Penn South Capital
• Brokers: Mendy Pfeifer and Motti Blau – Eastern Union
• Loan Type: Bridge Loan – Acquisition & Renovation
• Loan Amount: $5,200,000
• Rate: Sub 7%

The deal was facilitated by brokers Mendy Pfeifer and Motti Blau from Eastern Union. The loan provided by Lancewood Capital was a bridge loan for acquisition and renovation purposes. The loan amount was $5,200,000 with a rate below 7%.