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Brokerage
Posted: November 25, 2013
Au of Brick Capital Group arranges $2.48 million mortgage
Jason Au, director of finance of Brick Capital Group, arranged for a local lender to fund a $2.48 million mortgage for the purchase of a commercial property.
The collateral consists of six retail stores located in the Briarwood section of Queens Blvd. The loan amount represents 75% of the purchase price and is for a 5-year term, 30-year amortization with interest at 4%.
Au was able to negotiate the prepayment of the loan anytime without penalty and facilitated the closing within the borrower's 30 day "time of the essence" closing requirement.
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