By the Numbers
Project Highlights
- Location: 224 N 6th Street, Brooklyn, NY 11211
- Property structure: 3 floors with 1 unit on each floor
- Project status: Recently completed
- Sales status: Units are going to market, with one unit already under contract
- Borrower profile: Known clients with payment capacity and a recognized professional track record
- Loan purpose: To be confirmed
- Exit strategy: To be confirmed
- Property value or appraisal value: To be confirmed
- Closing date: To be confirmed
- Final deal status: To be confirmed
Deal Overview
The borrower needed a bridge loan secured by a newly completed residential building. The property has 3 floors, with 1 unit on each floor.
The project was already moving toward the sales stage, with the units being brought to market and one unit already under contract.
The Challenge
This deal required a short-term lending structure while the newly completed units moved through the sales process. The property condition, borrower profile, and 50% LTV position helped strengthen the loan review.
The exact loan purpose and final exit strategy are to be confirmed based on the information provided.
Sky 18 Capital's Solution
Sky 18 Capital reviewed the opportunity as a 1-year bridge loan with monthly interest payments. The structure gave the borrower a practical financing option while keeping the deal backed by strong residential collateral.
Investment Thesis
This deal shows several strong lending factors:
- $4,000,000 bridge loan opportunity
- Newly completed residential building
- 50% LTV collateral position
- 3-floor property with 1 unit per floor
- One unit already under contract
- Borrower has payment capacity
- Borrower has a recognized professional track record
- Monthly interest payment schedule
- Final exit strategy: To be confirmed
The Result
The bridge loan structure gave the borrower a short-term financing option secured by a newly completed residential property. The final outcome of the deal is to be confirmed based on the available information.
Note: This case study is shared for illustrative purposes. Each project is reviewed on its own merits and final terms always depend on the property, borrower profile, documentation, market conditions and underwriting review.