East Williamsburg - JLJ CAPITAL

EAST WILLIAMSBURG

LOAN AMOUNT

$7,650,000

Lending Programs - Retail
BROOKLYN, NY

Lending Solutions - Bride Lending
BRIDGE LENDING
Lending Programs - Multi-Family
MULTI-FAMILY

THE PROJECT

JLJ Capital has provided a first mortgage of $5,825,000 and a construction loan of $1,825,000 to refinance and convert the Property, an existing 20,000+ gross square feet 4-story vacant manufacturing building into a mixed-used building with 18 residential units and 3,000 square feet of commercial space, located in the Bushwick neighborhood of Brooklyn.

The project has a strong value-add component along with the construction/conversion boom in East Williamsburg area with increased hotel, office, retail and apartment development, benefiting from Brooklyn’s steady influx of financial back office operations from Manhattan, the rapid growth of a hi-tech/entertainment economy in Dumbo, and robust growth in support services. 

BORROWER CREDENTIAL

A private real estate company that focuses in the Brooklyn, New York market, they have been successful in purchasing and renovating properties for over 10 years with 11 years of experience in development and construction in both residential and commercial. 

Currently inventory of properties consists of 15 developments and rehabilitations with a total of more than 160,000 SF in addition to 10 managed properties in Brooklyn, NY.

TRANSACTION KEY TERMS

Closing Date March 2017

Loan Type Heavy Reposition

Loan Amount $7,650,000

Term 15 Months

Location Brooklyn, NY

Property Type Multi-Family

Gross Square Footage 20,000 Sq Ft

EXPLORE JLJ CAPITAL BRIDGE LENDING TRANSACTIONS

WESTWOOD

WESTWOOD

$2.2 MM

NORTH  WILLIAMSBURG

NORTH WILLIAMSBURG

$38.0 MM

EDGEWATER

EDGEWATER

$16.5 MM

BEXAR COUNTY

BEXAR COUNTY

$3.0 MM

RARITAN

RARITAN

$9.8 MM

PROSPECT LEFFERTS GARDEN

PROSPECT LEFFERTS GARDEN

$7.4 MM

RIVERSIDE

RIVERSIDE

$4.1 MM

FAIR LAWN

FAIR LAWN

$5.6 MM

WESTVILLE & CLEMENTON

WESTVILLE & CLEMENTON

$8.0 MM

EAST  WILLIAMSBURG

EAST WILLIAMSBURG

$7.5 MM

EXPLORE JLJ CAPITAL'S LENDING PROGRAMS

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