Sky Equity, LLC provides senior debt on cash-flowing properties, or properties that will or can readily become cash-flowing. While the majority of the bridge loans we originate and service are in the New York Metropolitan Area, we will entertain opportunities in other primary markets nationwide as long as our loan criteria is met. At Sky Equity, we understand the time restraints faced by most borrowers. Therefore, we move quickly through the loan application process, with all underwriting being performed in house. This allows us to get you the approval and funds you need when you need them.

Property Geographic Area Details

New York City Metro and CT, DC, DE, FL, MA, MD, MI, NJ, PA, VA, WV

Loan Amounts

$100,000 to $2,000,000

Interest Rates

10% to 12%

Max Loan-To-Value

75.00%

Max Loan-To-Cost

75.00%

Origination Fees

1% to 3%

Loan Terms

6 months to 24 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%
  • Owner Occupied Commercial

Property Types and Loan Types

Collateral Types

  • Residential Property
  • Commercial Property

Property Types

  • 2-4 Units Residential
  • Assisted Living Facility
  • Car Wash
  • Cinema
  • Commercial Condominium
  • Condominium
  • Hostel
  • Industrial
  • Mixed-Use
  • Motel
  • Multifamily
  • Office
  • Portfolio of Commercial Properties
  • Portfolio of Residential Properties
  • Rehabilitation Facility
  • Retail
  • Senior Housing
  • Single Family Residence
  • Storage Facility
  • Student Housing

Loan Types

  • Private Money
  • Hard Money
  • Commercial Bridge
  • Residential Bridge
  • Commercial Property Value Add
  • Residential Fix and Flip
  • Residential Rehab and Rent

Specialty Loan Types

  • Residential Long-Term Rental
  • Partner Buyout
  • Foreclosure Bailout

Purchase Loan

Max Loan-To-Purchase Price

75.00%

Borrower Must Have Property Under Contract

yes

Will Provide Proof of Funds Letter

no

Will Consider Lending on Purchase from Auction

no

Allowed Source of Borrower’s Equity

  • Own Cash
  • Partner
  • Equity in Subject Property
  • Equity in Another Investment Property

Rehab Value Add Loan

Experience Required

no

Minimum Number of Value-Add Projects Completed by Borrower

0

Will Provide Funds for Renovation Costs

yes

Max LTC for Renovation Costs

75.00%

Interest Charged for Renovation Costs

Only on Funds Drawn

Typical Number of Days for Funds Draw

5

Details and Requirements

Typical Closing Time (Days)

14

Fastest Closing Time (Days)

7

Works With

  • Brokers
  • Borrowers

Payment Structure

  • Interest Only

Pre Payment Penalty

yes

Will lend to a foreign national

no

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

no

Will Consider Collateralizing Multiple Properties in One Loan

yes

Will Consider Equity Joint Venture

no

Borrower Entity Types Considered

  • Individual(s)
  • LLC
  • Limited Partnership
  • Trust
  • Corporation
  • Self-Directed IRA

Documentation Required

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

Personal Guaranty (Recourse) Required

Always

Credit Check Required

yes

Appraisal Required for Residential Property

Always

Appraisal Required for Commercial Property

Always

Broker Price Opinion (BPO) Accepted for Residential Property

Sometimes

Broker Price Opinion (BPO) Accepted for Commercial Property

Sometimes

Fees

Deposit Required

$1,000.00 to $5,000.00

Good Faith Deposit

Fees which are mandatory for all new borrower clients

  • Site Visit Fee
  • Legal Fee
  • Appraisal Fee
  • Inspection Fee
  • Title Fee
  • Extension Fee

Fees which are charged upfront prior to loan closing

  • Deposit
  • Appraisal Fee
  • Environmental Report Fee

Fees which are paid to a third party company

  • Appraisal Fee
  • Environmental Report Fee

Sky Equity, LLC is a hard money lending and real estate investment company, providing creative funding solutions for Borrowers, while consistently delivering healthy returns for Investors. Efficient loan processing, conservative underwriting and in-depth knowledge of market conditions are all hallmarks of Sky Equity. 

Sky Equity also owns many commercial and residential properties throughout the greater New York area.

Year Established

2015

Associations

  • American Association of Private Lenders - Member

Office Locations

43 West 33rd Street Suite 504, New York, NY 10001

Primary Capital Source

  • Debt Fund We Manage

Alternative Capital Sources

  • Debt Fund We Manage

Loan Structure for Majority of Loans

  • Own Balance Sheet

Alternative Loan Structures

  • Own Balance Sheet
  • Multiple Investor Fractionalized Note

Percentage of company’s lending business focused on private mortgage

100%

Percentage of Loans Secured by Commercial Property

40%

Percentage of Loans Secured by Residential Property

60%

Percentage of Residential Property Loans Which are Fix and Flip

50%

Percentage of Residential Property Loans Which are Buy and Hold

50%

Allen Esses

President & Fund Manager

Mr. Esses has over 30 years of experience working in the real estate equities market in the New York Metropolitan Area. Mr. Esses also has significant experience in residential and commercial acquisition, development and property management. Mr. Esses is considered by his colleagues and clients a fair and earnest professional.

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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Requested loan amount divided by the purchase price + rehab/construction costs

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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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Requested loan amount divided by the purchase price + rehab/construction costs

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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?

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