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BridgeCity Capital Provides $20.6M Acquisition Loan For Fort Lauderdale Development Site

300 Northeast 3rd Avenue
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This Development Site property located in FL received a loan of $20,625,000 over 2 years ago.

BridgeCity Capital, represented by Allan Lebovits, Louis Lebovits, Moishe Loketch, and Pinny Loketch, provided a loan for the acquisition of a development site located at 300 NE 3rd Ave in Fort Lauderdale. The land spans 82,548 square feet and is owned by Simon Dushinsky. The loan amount for the acquisition was $20,625,000, with a loan-to-value (LTV) ratio of 76%. The loan terms included a term sheet to closing within 2 weeks.

Summary of transation details

  • Property Type: Development Site
  • Transaction Amount: $20,625,000
  • Address: 300 NE 3rd Ave, Fort Lauderdale
  • Market: Fort Lauderdale
  • Lender: BridgeCity Capital - Allan Lebovits, Louis Lebovits, Moishe Loketch, and Pinny Loketch
  • Landlord: Simon Dushinsky
  • Loan Type: Acquisition
  • Loan Terms: Executed term sheet to closing – 2 weeks. LTV 76%

BridgeCity Capital, a financing company specializing in mixed-use, residential, industrial, and construction projects, actively supports ventures in the Tri-State Area, South Florida, and other states. For loan inquiries, interested parties can visit https://www.bridgecityfunding.com/ or contact [email protected].

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  • Location
    300 NE 3rd Ave, Fort Lauderdale, Florida 33301, United States300 NE 3rd Ave, Fort Lauderdale, Florida 33301, United States
  • Loan Value
    $20,625,000$20,625,000
  • Asset Type
    Development SiteDevelopment Site

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Deal Summary

LOAN IMAGE: Moishe Loketch, Louis Lebovits, Allan Lebovits & Pinny Loketch DATE: 12/16/2021 ADDRESS: 300 NE 3rd Ave. MARKET: Fort Lauderdale ASSET TYPE: Development Site ~ Land SF: 82,548 LENDER: BridgeCity Capital (@BridgeCityFunding) - Allan Lebovits, Louis Lebovits, Moishe Loketch & Pinny Loketch (@Loketch_Group) LANDLORD: Simon Dushinsky LOAN AMOUNT: $20,625,000 LOAN TYPE: Acquisition LOAN TERMS: Executed term sheet to closing – 2 weeks. LTV 76% NOTE FROM @TheLoketchGroup: BridgeCity Capital is actively financing mixed-use, residential, industrial & construction projects in the Tri-State Area, South Florida & in various other states. Visit us at https://www.bridgecityfunding.com/ or send loan inquires to [email protected]

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