We Lend LLC Provides $3,574,899 Foreclosure Bailout Loan For 4 Multifamily Buildings In Brooklyn

The asset involved in this transaction consists of four rent-stabilized buildings in Brooklyn, NY, housing a total of 24 units, with each building containing six units. The loan provided is valued at $3,574,899, and the loan type is categorized as a bridge loan with a term of 12 months.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $3,574,899
• Lender: Ruben Izgelov & Jeff Safi - We Lend LLC
• Loan Type: Bridge
• Loan Terms: 12 months
• Note from Lender: We Lend provided a foreclosure bailout loan across four rent-stabilized buildings, enabling the borrower to retain and reposition the portfolio with paying tenants, subsequently refinancing into a 30-year DSCR loan.
• Funded in 2 weeks

The deal was facilitated by Lender representatives Ruben Izgelov and Jeff Safi of We Lend LLC, who managed the structuring of the bridge loan and subsequent refinancing into a long-term loan, allowing for greater stability for the borrower.