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$11,500,000 Acquisition Loan – Astoria, New York

Brick Capital Partners, through an affiliate entity, funded an $11,500,000 acquisition loan for a local real estate investor’s purchase of two retail properties located on Broadway and Steinway Street in Astoria, Queens.  Despite having multiple offers from other bridge loan providers, some offering greater loan proceeds, the borrower opted to close with Brick. According to Managing Member Eric C. Roth.”The purchaser had the utmost confidence that we would be able to complete our due diligence and close the loan within two weeks in order to meet its time of the essence requirement.”