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Brokerage
Posted: November 22, 2022
BridgeXFunding places $1.4 million for 16,850 s/f office/retail building
Mount Vernon, NY BridgeXFunding arranged the bridge funding of a 16,850 s/f office/retail property at 11 W Prospect Ave.
The building includes five retail shops on the first floor and four full floor office suites on the second through fifth floors.
This is a first mortgage loan of $1.4 million with a 50% LTV with built-in reserves interest & taxes, and a fixed rate for 12 months.
This is another step for BridgeXFunding on its mission to become the number one direct portfolio lender originating commercial bridge loans in the greater tri-state area. The recent funding adds to the company’s second and third quarter successes. This funding is one of multiple recent transactions and closings for the company.
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