Swift Capital Provides $3 Million Acquisition Loan For Condo Conversion Project In Greenpoint Brooklyn

The asset involved in this transaction is a condo conversion located in Greenpoint, Brooklyn. The total square footage of the property is 1,586, and it consists of 2 units. The project received a loan amount of $3,000,000 for acquisition and construction financing.

Summary of transation details:

• Property Type: Condo Conversion
• Transaction Amount: $3,000,000
• Loan Type: Acquisition
• Loan Terms: 18 Months
• Lender: Swift Capital
• Market: Brooklyn
• Units: 2
• Note: The borrower positioned the project for a projected return of 154.28% ROI.

The deal was facilitated by Guy Shmuel from Swift Capital, who played a key role in funding this complex project. Swift Capital LLC completed the closing in just 14 days, showcasing their capacity to manage large-scale value-add enhancements efficiently.