May 26, 2015 - New York City
Avant Capital Partners (Avant), a leading commercial real estate bridge lender, has originated $6.25 million in bridge loans secured by mixed-use and commercial residential properties in Manhattan, New York and Greenwich, Connecticut.
The first project is comprised of three contiguous mixed-use properties located in the Midtown West neighborhood of Manhattan. Estimated to be built in 1910, the property consists of three buildings featuring masonry construction, a brick exterior and a flat top roof. The property currently contains a total of twenty apartments and three ground floor retail units with a total gross building area of 16,916 s/f.
Located in one of the most desirable residential streets of downtown Greenwich, the Greenwich property consists of four condominium units, which are under construction and approximately 60% completed. Each unit will contain three bedrooms and 3.5 bathrooms, high-end interior finishes including, hard wood floors, high ceilings, and an average unit size of 3,650 s/f.