$850,000 Bridge Loan
9,600 Square Feet
June 2018 – Avant Capital Partners has originated a first mortgage loan secured by two contiguous fully-leased mixed-use properties located in the Clason Point submarket of the Soundview market in Southeast Bronx. The Property is comprised of two contiguous tax parcels and is improved with two commercial buildings containing four commercial rental units and seven residential units, each of which is a private bungalow-style home on a gated private street. The Property is currently fully-leased, with one of the residential units being used for storage. The commercial tenants include a church, a beauty salon, a nail salon and a check cashing business. This area is characterized predominantly by residential uses, with a mix of row-houses, mid-rise apartment buildings, low income housing and condominiums. Sound View Avenue is a highly trafficked commercial corridor serving the area.