Brick Capital Partners closes three first mortgages

Bronx, NY Brick Capital Partners LLC, recently closed the following transactions: 

• A first mortgage in the amount of $2 million to a private real estate investor. Located on East 149^th St.,  the collateral is comprised of a six story elevator apartment building that contains 39 apartments and 3 retail stores. The loan included  the funding for building-wide major capital improvements as well as for the renovation of 23 vacant apartments.  The interest only loan is for a 2 year term and was arranged by Brick Capital’s Phil Ragone.

• Through an affiliate entity,Brick Capital Partners has provided a first mortgage in the amount of $800,000 to a local real estate investor.  The collateral, located in the  Brownsville section of Brooklyn,  is comprised of a 2 Three Story mixed use walk-up apartment building that contain 6 residential units a 2 retail tenants.   The interest only loan is for a two year term and was closed within seven days of application in order to facilitate the borrower’s time of the essence closing.

• Through an affiliate entity,Brick Capital Partners has provided a first mortgage in the amount of $550,000 to a local real estate investor.  The collateral, located in the Greenpoint section of Brooklyn,  is comprised of a four story walk-up apartment building that contains 8 units.  The interest only loan is for a two year term and was closed within three days of application.