Downing of Largo Capital secures a $12 million construction loan

Orlando, FL Max Downing, originator at Largo Capital, Inc. secured a $12 million construction loan to finance the ground-up development of a 109-room Everhome SuitesTM, an extended-stay product by Choice Hotels. The project is located on International Dr., one of the busiest tourist corridors in the country, and offers access to all major theme parks and tourist attractions.

Even though demand for extended-stay hotels as an asset class continues to grow at unprecedented levels, many banks have reached their lending capacity or have put pencils down on construction deals altogether for new clients. In many instances, banks will require a significant depository relationship as an inducement to make new loans.

Because of the expansive lending relationships, borrowers who work with Largo Capital can be confident that they’re being presented with the most favorable loan terms available in the market for their hotel construction, value-add, or stabilized projects.

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Marcus & Millichap brokers $2.8 million sale of free-market mixed-use property in Brooklyn

Brooklyn, NY Marcus & Millichap brokered the sale of 733 Dekalb Ave., a fully free-market multifamily and retail property in the Bed-Stuy neighborhood. The asset sold for $2.8 million.

Investment Property Realty Group’s Team Friedman brokers seven Bronx closings totaling $12.07 million

IPRG’s Team Friedman brokers 7 Bronx closings totaling $12.07m

Highcap Group sells Astoria 17 unit elevatored apartment building

OPEN Impact R.E. helps Coney Island Prep. secure 39-year leasehold condominium for new 45,190 s/f high school

OPEN Impact helps Coney Island Prep. secure leasehold condo. for new high school

New York restaurant group acquires Upper West Side retail co-op for $4.135 million in deal arranged by Lee & Associates NYC

N.Y. restaurant group acquires Upper West Side retail co-op for $4.135m in deal arranged by Lee & Associates NYC

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