A multifamily property with a square footage of 3,456 and two units located at 1011 Lincoln Pl. in Crown Heights, was involved in a recent closed transaction.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $1,370,920
• Address: 1011 Lincoln Pl.
• Market: Crown Heights
• Square Footage: 3,456
• Units: 2

In this transaction, the lender was Express Capital Financing represented by Simon Rishty.

The loan amount for the transaction was $1,370,920, and it was classified as a Bridge loan. The loan type provided flexibility to the investor, with options for cash-out refinance and construction. The interest rate on the loan was 7.99%, allowing for a cost-effective financing solution for the property.

Throughout the deal, Simon Rishty from Express Capital Financing worked closely with the investor. Together, they secured $400k to pay off an existing loan, $489k cash-out for the down payment on another property, and an additional $481k construction loan to add value and stabilize the property. The entire process was completed within a remarkable timeframe of just 9 days.

For any inquiries regarding loans, interested parties can get in touch with Simon Rishty at [email protected].