CRE Bridge Loan for Autobody Shop in Nassau County

Funded by Namdar Capital

$600,000

Deal Details

Private Loan Type

Equity Cash Out

Approx. Funding Date

05/08/2024

Property Type
Auto Dealership
Property City

NASSAU

Property State

NY

Loan Term (months)

24

Lien Type

1st Mortgage

Payment Type

Interest Only

Property Value

$3,000,000

Loan-to-Value

20%

Location Type

Suburban

Property Condition

Good

Occupancy at Closing

Owner-Occupied

Number of Units

1

Building Square Footage

8,000

Lot Square Footage

40,000

Borrower's Plan

Continue Occupancy

Exit Strategy

Refinance

Borrower Credit Rating

Good

Interest Rate

12%

Origination Points

2%

Funded By

Namdar Capital

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