$ 2,000,000

Loan Strategy:
Refinance

Location:
Pleasantville, NY 10570, USA

7.5% 65% 12 mo.
Rate LTV Term

Summary

  • About this property: The borrower purchased a mixed-use property consisting of one commercial unit and sixteen residential apartments located at 98 Washington Avenue, Pleasantville, NY for $1,150,000. The borrower will complete the construction for $1,900,000. The property will have an estimated market value of $4,700,000 when the construction is completed and the property is stabilized.

Rate Detail

  • York Mortgage Rate: 7.5%

Investment Overview

  • Originator: York Funding LLC
  • Lien Type: Pledge Agreement
  • Repayment Type: Refinance

Investment Purpose & Strategy

  • Loan Purpose: New Development of 14 units and 20-spot parking garage
  • Loan Strategy: Refinance
  • Rehab Budget: $ 2,500,000
  • Construction Budget: $ 2,500,000

LTV Details

  • Market Value: $ 3,425,000

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Description

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2020-10-14T17:08:54-04:00