New York CityNew York City

$6,500,000 First Mortgage – Yonkers 119 Unit Coop Building

Brick Capital Partners, through an affiliate entity, funded a $6,500,000 first mortgage to a 119-unit cooperative apartment building located in Yonkers, New York.  The coop intends to utilize nearly $3,000,000 of the loan proceeds to make major capital improvements within the buildings.  According to Brick’s Eric C. Roth, “we were able to close the loan within two weeks of application in order to allow the cooperative to take full advantage of a year-end prepayment waiver that was offered by the prior lender.”