New York NY Multifamily $4,100,000

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LIC Light industrial
November, 2017

$4,100,000 Bridge Loan

size-icon Kips Bay, Manhattan, NY

size-icon 9,390 Square Feet

size-icon Multifamily

Avant Capital Partners has originated a $4.1 million loan secured by a multifamily property in the Kips Bay neighborhood of Manhattan.   The Property is a Six-story building containing one duplex community facility space and four floor-through four-bedroom rental apartments.  Loan proceeds refinanced the existing mortgage debt, pay property taxes and building violations, and fund reserves and closing costs. The Property is approximately a half-mile southeast of Grand Central Terminal and the surrounding office buildings as well as one block west of the New York University School of Medicine, which features the Tisch Hospital.