
Boston, MA Leviathan Capital is pleased to announce that Joe Hach recently arranged a $1.428 million inventory loan secured by the final two units of a 30-unit condo project.
Facing an impending maturity date, the borrower approached Leviathan Capital for a refinance, which was successfully closed just three weeks after the term sheet was signed. The 8.99% loan features a 1% origination fee, no exit fee, and a flexible prepayment penalty to facilitate an easy exit via sale.
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,