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Brooklyn, NY — $1,300,000 Bridge Loan for a 2-Unit to 5-Family Expansion
A $1,300,000 bridge loan for a 2-unit to 5-family expansion in Brooklyn, NY.
$1,300,000
Loan Amount:
LTV %:
N/A
Brooklyn
City:
2 Unit to 5 Family Expansion
Property Type:
Bridge Financing
Transaction Type:
An investor set out to expand a 2-unit property into a 5-family building in Brooklyn, NY — an unusual scope-of-work that many lenders won't touch mid-conversion.
Essencap provided bridge financing of $1,300,000 to carry the project through expansion.
The financing supported the investor's plan to significantly increase the property's unit count and value.
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