Deal Details
Private Loan Type
Purchase
Approx. Funding Date
10/09/2018
Property Type
2-4 Units Residential
Property City
Irvington
Property State
NJ
Lien Type
1st Mortgage
Payment Type
Interest Only
After-Repair Value
$250,000
Lot Square Footage
3,000
Deal Summary
IceCap Group, a direct private lending firm, funded a $154,750 1st lien position bridge loan for the acquisition of a 2-unit family home in Irvington, New Jersey. The subject property was built in 1905 and sits on over 3,000 square feet of land. After renovations, the property will be worth $250,000. This purchase bridge loan was funded in October 2018.