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Deal Details
Private Loan Type
Purchase
Approx. Funding Date
01/01/2020
Property Type
Condominium
Mixed-Use
Office
Retail
Property City
Long Island City, Queens
Property State
NY
Lien Type
1st Mortgage
Payment Type
Interest Only
Deal Summary
Ontario Wealth Management Corporation, a Toronto-based commercial real estate loan origination and servicing company, funded a $1,800,000 1st lien position bridge loan for the acquisition of a mixed-use property in Long Island City, Queens, NY. Owemanco funded the acquisition of a 3-story mixed-use building in Long Island City, Queens consisting of ground-floor retail, a second-floor office, and a 2-bed condominium on the third floor. This private money loan was funded in January 2020.
Funded By
Ontario Wealth Management Corporation
Direct Lender for Commercial Real Estate Bridge Loans