bridge loan 25

bridge loan 26
August, 2016
bridge loan 24
August, 2016

$2,000,000 Bridge Loan

size-icon Murray Hill, Manhattan, NY

size-icon 1,920 Square Feet

size-icon Townhouse

April 2016 – Avant Capital Partners originated a first mortgage loan in the amount of $2,000,000 in the Murray Hill neighborhood of Manhattan, secured by a four-story single family townhouse with a gross area of 1,920 square feet, excluding the basement. Loan proceeds partially financed the acquisition of the Property, as well as reserves and closing costs. The 18-month Loan amounts to 72% of the purchase price, or 58% of the total project cost. The townhouse dates back to 1869 and features original details, including wall and ceiling ornaments, as well as working fireplaces in almost every room. It was updated by the prior owner in 2002 with renovations such as a new kitchen, refinished floors and woodwork, complete repainting, new windows, and remodeled bathrooms. Murray Hill is a short walk to Grand Central Terminal and replete with historic late 19th century townhomes.