$9 Million Construction Loan Secured for Mixed-Use Property in the Bronx, NY
Brad Domenico arranged a $9,000,000 construction loan for a mixed-use property located at 2488-2490 Third Avenue in the Bronx, NY.
The 5-story mixed-use property is currently under construction and will be a loft style building containing 28 residential units and 1 retail unit. Located in the historic Mott Haven section in the South Bronx, the building is conveniently located within close proximity to the 4, 5, 6 trains located on 138th Street, which make it an ideal location for the residential tenants. The subject property is also conveniently located off the Major Deegan Expressway, which makes the property easily accessible.
Brad worked with Metropolitan Bank to negotiate favorable terms for his client to be able to carry out construction plans for the site.
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