Lancewood Capital closes over $25 million in recent loans

New York, NY Lancewood Capital, a New York-based family office focused on commercial real estate debt investment opportunities in the $1-50 million space, announced the following recent transactions structured by Matt Schatzle: 

- 142 Watts St., New York, NY- a $6.45 million bridge loan to finance the completion of a construction project in Tribeca. The sponsor was 90% complete with construction and needed additional time and proceeds to complete the project.

- 204-218 East 165th, Bronx, NY- a $4.85 million bridge loan to refinance two adjacent mixed-use buildings comprised of 52 apartments and 11 retail units in the Concourse neighborhood.  The sponsor needed to pay off a matured loan and Lancewood Capital closed in under 10 days. Lancewood Capital provided the sponsor with a competitively priced, short-term bridge loan that provided the sponsor with the necessary capital to cover lease-up costs for two retail units. 

- 21 & 27 Greenpoint Ave., Brooklyn, NY- a $3.5 million bridge loan to finance the acquisition and renovation of two mixed-use buildings in Greenpoint. The properties are on the waterfront with views of Manhattan. Lancewood Capital’s loan was 65% of the purchase price. It closed in 10 days at a near-bank rate.

- 2403 Creston Ave., Bronx, NY-  a $3.41 million bridge loan to refinance a maturing loan secured by a thirty-one unit apartment building in the Fordham neighborhood. The sponsor sought competitive short-term financing with a very short minimum interest period. Lancewood Capital delivered a competitively priced, short term bridge loan that will provide the sponsor with the necessary time to refinance with a traditional lender.

- 247 E 50th St. & 984-986 2nd Ave., New York, NY- a $2.85 million bridge loan to refinance a maturing loan secured by three mixed-use buildings in midtown, Manhattan. The three buildings feature ten residential units and five commercial spaces, approximately 14,000 s/f. The sponsor sought competitive short-term financing with a very short minimum interest period.

- 1605 NE 3rd Ave., Delray Beach FL- a $2.45 million bridge loan to finance the acquisition of three adjacent multifamily buildings comprised of 18 total units in Delray Beach, Fl. The property is walking distance to Downtown Delray Beach/Atlantic Ave. Lancewood Capital’s loan was 70% of the purchase price. The borrower needed a quick closing due to purchasing a contract flip with an impending date. It closed in 10 days at a near-bank rate.

- 106 S. 2nd St., Brooklyn, NY - a $1.85 million bridge loan to finance the acquisition of a four family brownstone in the Williamsburg. The property is walking distance to the Bedford Ave L train stop and two blocks from Domino Park. Lancewood Capital’s loan was 65% of the purchase price. It closed in eight days at a near-bank rate