Sheridan Capital Provides $12.25M Bridge Loan For Vacant Multifamily Property In Freeport NY

An acquisition financing was provided by in-house debt fund, Sheridan Capital, for a vacant building located at 17 Buffalo Avenue, Freeport, NY. The multifamily property spans 166,000 square feet with 200 units. The loan amount for the transaction was $12,250,000, with a bridge loan type and terms of 70% LTV, 45-Day Close, and a 12-Month Term.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $12,250,000
• Address: 17 Buffalo Avenue
• Market: Freeport
• Square Footage: 166,000
• Units: 200

The transaction was facilitated by Avi Eyal and Josh Pollack from FM Capital, serving as brokers for BOSFA, the landlord. For more information or to discuss any financing needs, please contact Avi Eyal at [email protected].