Private Construction Loan for Condominium Building in Brooklyn, New York

Deal Details

Private Loan Type

Residential Ground-Up Construction

Approx. Funding Date


Property Type
Property City


Property State


Lien Type

1st Mortgage

Payment Type

Interest Only

Property Neighborhood

East Flatbush

Building Square Footage


Deal Summary

Ontario Wealth Management Corporation, a Toronto-based commercial real estate loan origination and servicing company, funded a $3,700,000 1st lien position private construction loan for a condominium building in Brooklyn, NY. Owemanco provided construction financing for the development of an 8,300-square-foot, 4-story residential condominium building in the East Flatbush neighborhood of Brooklyn, NY. The loan was additionally secured by a 3-story multi-family walkup apartment building adjoining the development. This CRE private construction loan was funded in January 2020.

Funded By

Ontario Wealth Management Corporation

Direct Lender for Commercial Real Estate Bridge Loans