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Brokerage
Posted: February 19, 2019
CUR Funding originates $6 million bridge loan
Brooklyn, NY CUR Funding LLC, the lending arm of City Urban Realty, through an affiliate entity, has funded a $6 million bridge loan secured by a portfolio of mixed-use buildings in the Fort Greene and Clinton Hill neighborhoods.
The buildings, located at 701 & 703 Fulton St., 173 Lexington Ave., and 451 Classon Ave., total 15,500 s/f. The borrowers, J.J. Fulton Realty Corp. and 451 Classon Corp., required capital to consolidate and pay off maturing loans.
City Urban Realty, headed by Michael Alvandi, is a fully integrated privately held real estate investment company dedicated to commercial real estate equity and debt opportunities through its lending division CUR Funding LLC.
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