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Posted: November 15, 2016
Glass of Brick Capital arranges $11.5 million; Niblock of Brick brokers $2.45 million
Eric Roth, Brick Capital PartnersQueens, NY Brick Capital Partners has completed the following deals:
Through an affiliate entity, Brick funded an $11.5 million acquisition loan for a local real estate investor’s purchase of two retail properties located on Broadway and Steinway St. in the Astoria neighborhood.
Despite having multiple offers from other bridge loan providers, some offering greater loan proceeds, the borrower opted to close with Brick, according to managing member Eric Roth.
George Niblock, Brick Capital Partners“The purchaser had the utmost confidence that we would be able to complete our due diligence and close the loan within two weeks in order to meet its time of the essence requirement.”
Andrew Glass was the broker who arranged the financing on the borrower’s behalf.
Through an affiliate entity, Brick funded a $2.45 million mezzanine loan to a local real estate investor. The loan was closed within 10 days of the borrower’s application. The collateral, is located Manhattan’s Greenwich Village. George Niblock, a managing partner, arranged the financing.
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