$4,157,000 Secured for New Construction of Three Multifamily / Mixed-Use Buildings in the Bronx
Representing MADDD Equities, Brad Domenico, Partner at Progress Capital, negotiated a $4,157,000 construction to permanent loan for the development of three attached 4-story mixed-use buildings located at 139-141 Alexander Avenue in the Mott Haven section of South Bronx. Each of the three buildings will include 7 luxury residential units and one single ground level retail space.
Domenico arranged the loan with an initial 18-month interest-only period during construction. After the interest-only period the loan converts to a 7-Year permanent mortgage based on a 30 year amortization.
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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