Closed Loans

1930’s Brownstone Undergoes Renovation with Funding Arranged by Progress Capital

Progress Capital’s Brad Domenico secured a $1,680,000 acquisition and renovation loan for a valued borrower to acquire a Cornelia Street Brownstone in Ridgewood, NY.  A complete renovation of the 3 story multi-family property featuring 6 rentable units is planned.  In addition to acquisition proceeds, the loan provides funds for renovation and also tenant relocation fees.  Highlights are:

  • 3 Year Term with one 12-month extension option
  • Floating Rate over Prime
  • Interest Only
  • Non-Recourse upon Stabilization

Progress Capital is a commercial real estate advisory company serving clients since 1990. With over $40 Billion in closed loans and $150 Million of directly funded bridge loans, we will get you to the closing table… Plain and Simple. #thatsProgress

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