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Brooklyn, NY According to Leviathan Capital, senior capital markets advisor and licensed salesperson Peter Cohen has closed a $3.14 million construction loan for a condominium development project located in the Greenpoint neighborhood.
The loan financing terms include: 9.99% interest rate, 24-month term and 30-day closing.
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,