Project
Development &
Financing
Development & Rehabilitation
Jersey City, NJ
Mezzanine Loan
Located in the Heights section of Jersey City this 8 unit building was under construction when the borrowers requested additional funds for another Hudson County purchase. NY Urban lent the borrowers a mezzanine loan encumbered by this asset.
East Hampton, NY
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Construction Loan
Located on Sally's Path in East Hampton, the borrower secured the land and entitlements before contacting NY Urban in February of 2016 for a construction loan for the 6,000 SF luxury vacation home in the amount of $1,350,000. The luxury home sold in October of 2017 for $2,700,000.
Eatontown, NJ
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Acquisition $8,800,000
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NY Urban provided to the borrower $1,000,000 in mezzanine capital in April of 2016. The proceeds were used for the acquisition of the partially vacant industrial property. The borrowers arranged for a 1st mortgage through a local savings bank in the amount of $6,700,000