Joshua Malekan Secures $1,126,000 Bridge Loan From Aryia Bala For 40 Ellard Avenue

The asset involved in this transaction is a multifamily property located at 40 Ellard Avenue in Great Neck. The total square footage of the property is 2,600. The loan amount for this transaction is $1,126,000, structured as a bridge loan.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $1,126,000
• Address: 40 Ellard Avenue
• Market: Great Neck
• Lender: Aryia Bala - Malve Capital
• Landlord: Joshua Malekan
• Landlord's Representative: Joshua Malekan - Bridge Advisory Group
• Lender's Representative: Aryia Bala - Malve Capital
• Loan Type: Bridge

Aryia Bala of Malve Capital emphasized the lender's ability to provide aggressive leverage and certainty of execution for New York borrowers. The transaction showcased a strong basis, a clear renovation plan, and the potential for meaningful upside to the stabilized value. The buyer, Joshua Malekan, proceeded with the acquisition sight unseen, managing to close the deal swiftly by accepting all complex terms set forth by the seller.