Deal Details
Private Loan Type
Purchase
Approx. Funding Date
09/14/2018
Property Type
Mixed-Use
Property City
Brooklyn
Property State
NY
Lien Type
1st Mortgage
Payment Type
Interest Only
Property Neighborhood
Ocean Hill
Building Square Footage
3,250
Deal Summary
IceCap Group, a direct private lending firm, funded a $600,000 1st lien position hard money loan for the acquisition of a mixed-use property in the Ocean Hill neighborhood of Brooklyn, New York. The property consists of a 2-story, walk-up, mixed-use building containing 1 residential unit and 2,400 square feet of commercial space. The property contains 3,250 square feet of gross building area above grade. This purchase bridge loan was funded in September 2018.