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Construction and Building Loan for Harlem Taxpayer

Brick Realty Capital LLC, through an affiliate entity, provided a building and construction loan in the amount of $750,000 for the renovation of a one story commercial building located in central Harlem on Adam Clayton Powell Boulevard and West 126th Street.  Tenants of the 3400 square foot building had been recently forced to vacate the premises due to  extensive damage of the building’s roof and parapet walls.  According to Managing Partner Eric C. Roth, “the building’s owner, a local private investor who has owned the property for 32 years, experienced great difficulty in his attempt to secure a traditional financing source to fund the renovation project.  However, we viewed this as a fantastic opportunity to fill the void and to finance the renovation and restoration of the retail storefronts, including the iconic Seville Lounge and Bar, which had serviced the local community for many years.”