News:
Brokerage
Posted: August 16, 2016
Brick Capital Partners funds $7.5 million acquisition loan, Edery of Paradigm Commercial RE was broker
Michael Edery, Paradigm Commercial Real Estate LLCManhattan, NY Brick Capital Partners LLC, through an affiliate entity, funded an acquisition loan in the amount of $7.5 million to a private real estate investor. Located in the Murray Hill section of the borough, the collateral is comprised of 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.
Michael Edery of Paradigm Commercial Real Estate was the broker.
Eric Roth, Friedman Roth Realty Services LLCAccording to Eric Roth, “this transaction is another example of our ability to complete due diligence and close loans on a highly expedited basis.”
Tags:
Brokerage
MORE FROM Brokerage
Liberow and Benshar of Asset CRG Advisors arrange $18.1 million ground lease transaction for 358 Flatbush Ave. development site
Brooklyn, NY Asset CRG Advisors recently facilitated the disposition of 358 Flatbush Ave., a Brooklyn development site situated at the intersection of Park Slope and Prospect Heights overlooking Grand Army Plaza and Prospect Park.
Quick Hits
Columns and Thought Leadership
AI comes to public relations, but be cautious, experts say - by Harry Zlokower
Last month Bisnow scheduled the New York AI & Technology cocktail event on commercial real estate, moderated by Tal Kerret, president, Silverstein Properties, and including tech officers from Rudin Management, Silverstein Properties, structural engineering company Thornton Tomasetti and the founder of Overlay Capital Build,
Strategic pause - by Shallini Mehra and Chirag Doshi
Many investors are in a period of strategic pause as New York City’s mayoral race approaches. A major inflection point came with the Democratic primary victory of Zohran Mamdani, a staunch tenant advocate, with a progressive housing platform which supports rent freezes for rent
Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,
A fresh start - by Shallini Mehra and Amit Doshi
For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced
