PROGRESS CAPITAL | Brad Domenico of Progress Capital Advisors Arranges Financing for 1930s Brownstone Renovations in Ridgewood New York
Queens, NY - Progress Capital Advisor'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.
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Ridgewood NY – $1,680,000

Category
Construction, Multi-Family
About This Project

 

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

 

Queens, NY – Progress Capital Advisor’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 Advisors loan programs include Fixed Rate Loans, Construction and Specialty Financing as well as Directly Funded Bridge Loans. With over $40 Billion in closed loans and $100 Million in bridge and direct lending, we will get you to the closing table … plain and simple – #thatsPROGRESS