Park Slope Condominiums

Brooklyn, NY

Loan Amount

$16,700,000

Deal Description

This deal required a particulier tailored structured loan that allowed the borrower to pay off his existing debt on the property and receive the remaining funds necessary to complete the development. The property had been under development for several years and had undergone multiple phases. This final phase the 20+ condo units we delayed which led to their inplace to come due.

Property Location

Brooklyn, NY

 Quick Stats 
Partner Type

Debt Fund

Program Type

Hard Money

Program details

- LTV: 85%
- Rate: 9%
- Term-2yr (Fixed)
- IO Period - Full Term
- Non-recourse