Direct Lender for Residential & Multifamily Investors

IceCap Group is a direct private lending firm based in New York City. As the most competitive and aggressive private money lender in the market, IceCap carries a strong value play in speed, service, leverage and surety of close. Our goal is to take you through the most simple and easy process for the best experience on all your loans – Fix & Flips, Bridge Loans, Refinances, 30 Year Term Loans, we do it all. Here’s why property investors choose IceCap Group.

  • Surety of close
  • Speed of approvals and close
  • Direct access to lending principals
  • Construction funding availability
  • Stream lined construction funding process
  • Lender flexibility in deal structuring
  • Lender understanding of rehabilitation process and expertise in local markets
  • Competitive interest rates and fees

Please note: We do NOT offer loans for owner-occupied homes or specialty commercial properties.

Property Geographic Area Details

Nationwide EXCEPT CA, ID, MN, NV, OR, VT

Loan Amounts

$50,000 to $10,000,000

Interest Rates

8% to 11%

Max Loan-To-Value

85.00%

Max Loan-To-Cost

90.00%

Origination Fees

2% to 4%

Loan Terms

6 months to 18 months

Lien Position

  • 1st

Loan Purpose

  • Investment Acquisition
  • Investment Refinance
  • Improve Subject Property
  • Use Equity to Invest in Another Property
  • Value Add Project

Property Occupancy

  • Vacant
  • Tenant Occupied 100%
  • Tenant Occupied Partial
Minimum Occupancy Percentage

0%

Property Types and Loan Types

Collateral Types

  • Residential Property

Property Types

  • 2-4 Units Residential
  • Condominium
  • Mixed-Use
  • Multifamily
  • Portfolio of Residential Properties
  • Single Family Residence

Loan Types

  • Private Money
  • Hard Money
  • Residential Bridge
  • Residential Fix and Flip
  • Residential Rehab and Rent
  • Residential Ground-Up Construction

Specialty Loan Types

  • Condo Conversion
  • Residential Long-Term Rental

Purchase Loan

Max Loan-To-Purchase Price

90.00%

Borrower Must Have Property Under Contract

no

Will Provide Proof of Funds Letter

yes

Will Consider Lending on Purchase from Auction

yes

Allowed Source of Borrower’s Equity

  • Own Cash
  • Partner
  • Equity in Another Investment Property

Rehab Value Add Loan

Experience Required

yes

Minimum Number of Value-Add Projects Completed by Borrower

3

Will Provide Funds for Renovation Costs

no

Max LTC for Renovation Costs

100.00%

Maximum After Repair Value

75.00%

Construction Loan

Development Experience Required

yes

Minimum Number of Ground-Up Construction Projects Completed by Borrower

3

Max LTC for Ground-Up Construction Costs

100.00%

Interest Charged for Construction Costs

Entire Amount of Total Project Costs

Will Lend on Partially Completed Construction Projects

no

Details and Requirements

Typical Closing Time (Days)

30

Fastest Closing Time (Days)

3

Works With

  • Brokers
  • Borrowers

Payment Structure

  • Interest Only

Pre Payment Penalty

no

Will lend to a foreign national

no

Will Allow Junior Position Mortgage(s) Behind Our Senior Mortgage

yes

Will Consider Collateralizing Multiple Properties in One Loan

yes

Will Consider Equity Joint Venture

no

Borrower Entity Types Considered

  • Individual(s)
  • LLC
  • Limited Partnership
  • Corporation

Documentation Required

  • Credit Report
  • Bank Statements
  • Financial Statements
  • Loan Application

Personal Guaranty (Recourse) Required

Always

Credit Check Required

yes

Minimum Credit Score Required

600

Appraisal Required for Residential Property

Always

Broker Price Opinion (BPO) Accepted for Residential Property

Never

Fees

Deposit Required

$2,000.00 to $10,000.00

Due Diligence Fee

$250.00 to $5,000.00

Underwriting Fee

$1,000.00 to $1,000.00

Legal Fee

Fees which are mandatory for all new borrower clients

  • Deposit
  • Underwriting Fee
  • Legal Fee
  • Appraisal Fee
  • Title Fee

Fees which are charged upfront prior to loan closing

  • Underwriting Fee
  • Legal Fee
  • Appraisal Fee
  • Title Fee

IceCap is a division of the Oved Group family office with a long, successful history of investing in industry leaders.

While staying true to core values of integrity and respect, Oved Group has demonstrated their ability to successfully originate, negotiate, and realize investments in a variety of different industries.

IceCap Group, was launched as the base for the family’s Real Estate finance arm, to partner with the best real estate investors on their projects. As one of the largest Private Money Lenders in the Tri-State area, IceCap currently originates over 75+ deals per month.

With the relationships built between the company and their borrowing partners, IceCap Group continuously strives to advance their programs to ensure each investment to be successful.

Company Size (Number of Employees)

20

Year Established

2016

Office Locations

IceCap Group
31 W 34 Street, New York, NY 10001

Primary Capital Source

  • Own Funds
  • Family Offices

Alternative Capital Sources

  • Individual Investors

Loan Structure for Majority of Loans

  • Own Balance Sheet

Alternative Loan Structures

  • Table Funding with Capital Partner

Percentage of company’s lending business focused on private mortgage

100%

Company’s Other Business Activities Besides Private Mortgage Lending

  • Residential Real Estate Investing
  • Real Estate Development

Percentage of Loans Secured by Residential Property

95%

Percentage of Residential Property Loans Which are Fix and Flip

50%

Percentage of Residential Property Loans Which are Buy and Hold

50%

Percentage of Commercial Property Loans Which are Ground-Up Construction

5%

Percentage of Residential Property Loans Which are Ground-Up Construction

10%

Percentage of Residential Property Loans Which are Long-Term Rental (5+ years)

25%

Total Number of Loans Funded to Date

1000

Total Loan Volume Funded to Date

$400,000,000

Joseph Oved

Chief Executive Officer

Joseph’s responsibilities include managing Oved’s current portfolio of real estate, directing new acquisitions and evaluating new lending opportunities. Joseph channels his energy in building relationships with New York landlords, developers and tenants, leveraging those relationships to create new deal flow.

Joseph Bekar

Vice President of Underwriting

Joseph provides real time market insight on a daily basis. He is an active actor in the buying, selling and renting of investment properties across NYC. Joe’s intimate knowledge of the market allows him to identify and secure loans and acquisitions for the company.

Joseph Benz

Originations

Mordi Lati

Originations

Completed Transactions

IceCap Group

Private Loan Funding
Amagansett, NY
$1,490,000
Single Family Residence

Purchase

IceCap Group

Private Loan Funding
Queens, NY
$2,400,000
Multifamily

Refinance

IceCap Group

Private Loan Funding
Brooklyn, NY
$600,000
Mixed-Use

Purchase

IceCap Group

Private Loan Funding
Irvington, NJ
$154,750
2-4 Units Residential

Purchase

IceCap Group

Private Loan Funding
Bronx, NY
$1,500,000
Multifamily

Purchase

Loan Request

Short Description of your Loan Request or Property Address

This information is about yourself, not the subject property.

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(temp use, storage, billboard, parking, etc.)

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If Borrower is not seeking additional funds for the renovation, change the Loan Type to Purchase or Acquisition.

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(temp use, storage, billboard, parking, etc.)

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If Borrower is not seeking additional funds for the renovation, change the Loan Type to Purchase or Acquisition.

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how will the loan be paid off?

acres

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