Private Money Loan for Mixed-use Property Acquisition in Long Island City, Queens, New York

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