Express Capital Financing Provides $1.37M Bridge Loan For Multifamily Property In Crown Heights
1011 Lincoln Place
3,456 SF
Summary
A multifamily property with a square footage of 3,456 and two units located at 1011 Lincoln Pl. in Crown Heights, was involved in a recent closed transaction.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,370,920
- Address: 1011 Lincoln Pl.
- Market: Crown Heights
- Square Footage: 3,456
- Units: 2
In this transaction, the lender was Express Capital Financing represented by Simon Rishty.
The loan amount for the transaction was $1,370,920, and it was classified as a Bridge loan. The loan type provided flexibility to the investor, with options for cash-out refinance and construction. The interest rate on the loan was 7.99%, allowing for a cost-effective financing solution for the property.
Throughout the deal, Simon Rishty from Express Capital Financing worked closely with the investor. Together, they secured $400k to pay off an existing loan, $489k cash-out for the down payment on another property, and an additional $481k construction loan to add value and stabilize the property. The entire process was completed within a remarkable timeframe of just 9 days.
For any inquiries regarding loans, interested parties can get in touch with Simon Rishty at [email protected].
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