New York CityNew York City

$7,500,000 First Mortgage Acquisition Loan – Murray Hill

Brick Capital Partners LLC, through an affiliate entity, funded an acquisition loan in the amount of $7,500,000 to a private real estate investor.  Located in the Murray Hill section of Manhattan, the collateral is comprised of a two five story walk-up apartment buildings with 40 apartments. The loan included the funding for capital improvements to performed within the building as well as apartment renovations slated to have condo-like finishes.  The interest only loan is for a 2 year term and was closed within one week of application in order to meet the borrower’s time of the essence closing requirement.  According to Eric Roth, “this transaction is another example of our ability to complete  due diligence and close loans on a highly expedited basis.”