IceCap Group

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%

Loan Terms

6 months to 18 months

Origination Fees

2% to 4%

Lien Position

1st

Collateral Types

Residential Property

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%

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
Residential Long-Term Rental

Specialty Loan Types

Condo Conversion
Residential Long-Term Rental

Max Loan-to-Purchase Price

90%

Borrower Must Have Property Under Contract

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

Experience Required

yes

Minimum Number of Value-Add Projects Completed by Borrower

Will Provide Funds for Renovation Costs

Max LTC for Renovation Costs

100%

Development Experience Required

yes

Minimum Number of Ground-Up Construction Projects Completed by Borrower

Max LTC for Ground-Up Construction Costs

100%

Interest Charged for Construction Costs

Entire Amount of Total Project Costs

Will Lend on Partially Completed Construction Projects

Long-term loans are for residential (1-4 units) properties only. A minimum credit score of 650 is required.

Minimum Loan Amount

$75,000

Maximum Loan Amount

$10,000,000

Minimum Interest Rate

4.25%

Maximum Interest Rate

6.5%

Minimum Origination Fee

Maximum Origination Fee

Minimum Loan Term

36 months

Maximum Loan Term

360 months

Minimum Debt Service Coverage Ratio

1.00

Will Lend on a Portfolio of Rentals

Yes

Maximum Number of Properties

100

Minimum Property Value

$125,000

Maximum Property Value

$3,000,000

Fees which are mandatory for all new borrower clients

Deposit
Underwriting Fee
Legal Fee
Appraisal Fee
Title Fee

Details and Requirements

Typical Closing Time (Days)

Fastest Closing Time (Days)

Payment Structure

Interest Only

Pre Payment Penalty

Will lend to a foreign national

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

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

Get In Touch

IceCap Group pays us to be listed, so there is no fee to connect. Share your loan request, send a simple email, call, or visit their website.

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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)

Year Established

2016

Office Locations

31 W 34 Street, New York, NY 10001

Primary Capital Source

Own Funds
Debt Fund We Manage
Family Offices
Bank Credit Line

Alternative Capital Sources

Individual Investors

Loan Structure for Majority of Loans

Own Balance Sheet

Percentage of Loans Secured by Residential Property

95%

Total Number of Loans Funded to Date

1000

Total Loan Volume Funded to Date

$400,000,000

Our Team

Joseph Oved

Chief Executive Officer

Ezra Dweck

President

Joseph Bekar

Vice President of Underwriting

Mordi Lati

Originations

Funded Deals

Amagansett, NY

$1,490,000

Single Family Residence

Purchase

View Transaction

IceCap Group

Queens, NY

$2,400,000

Multifamily

Refinance

View Transaction

IceCap Group

Brooklyn, NY

$600,000

Mixed-Use

Purchase

View Transaction

IceCap Group

Irvington, NJ

$154,750

2-4 Units Residential

Purchase

View Transaction

IceCap Group

Bronx, NY

$1,500,000

Multifamily

Purchase

View Transaction

Get In Touch

IceCap Group pays us to be listed, so there is no fee to connect. Share your loan request, send a simple email, call, or visit their website.

Contact COMPANY

Stay Informed About Private Lending

Receive our monthly newsletters with valuable insights and industry updates

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