$4,550,000 Bridge Loan
Spuyten Duyvil & Riverdale, Bronx, NY & Yonkers, Westcester, NY
9,876, 17,000, 9,326 & 4,400 Square Feet
Residential, Single Family & Multifamily
February 2018 – Avant Capital Partners has originated a first mortgage loan in the amount of $1,800,000 secured by a residential property located on the southwestern tip of the Bronx, just below the Riverdale neighborhood. The Property consists of seven rental apartments in a three-story building. Palisade Avenue, particularly in the area surrounding the Property, is primarily residential with many high-rise and mid-rise apartment buildings. The Property abuts Spuyten Duyvil Shorefront Park, which is a 6.6 acre New York City park.
Avant Capital Partners has originated a first mortgage loan in the amount of $1,750,000 secured by a single-family residence located in the Riverdale neighborhood of the Bronx, two miles north of the Manhattan border. The Property, which is on a 1.20-acre lot, is improved with a three-story, single-family residence containing 20 rooms and a two-story carriage house situated on the eastern boundary of the grounds. The Property was built circa 1899 and is known for being a childhood home to former President John F. Kennedy from 1926 until 1928.
Avant Capital Partners has originated a first mortgage loan in the amount of $1,000,000 secured by two multifamily rental properties located in Yonkers, NY.
The Property located at 312 Woodworth Avenue consists of ten rental apartments in a five-story building just a 3 minute walk from the Glenwood station of the Metro-North Railroad. Travel time to Manhattan’s Grand Central Terminal is approximately 35 minutes.
The Property located at 72 Bruce Avenue consists of six rental apartments in a three-story building. It is a quarter mile north of Van Cortlandt Park, which is located in the Bronx and is the third-largest park in New York City. Further, the Property is approximately 1.5 miles north of the Riverdale Metro-North station, and approximately 1 mile south of the Ludlow Metro-North station. The travel time to Grand central Terminal from either station is approximately 30 minutes.