Development & Rehabilitation
Located at 1476 Harvard Street this project closed in May of 2013 and was located in the Columbia Heights section of DC. The scope of the project was a total renovation as well as the addition of two levels and re-developing the property into 4 luxury condominium units. The project was fully sold out in September 2014 for a net profit of $612,000.
Located at 411 Monroe Street this project started in the Spring of 2016 and was completed in the beginning of 2017. The project contain two (2) five (5) bedroom, 3 bath duplex condominium units.
Units will sell for $2,000,000.
Brush Island, CT
NY Urban provided to the borrower $1,500,000 in mezzanine capital in November of 2013. The proceeds were used for the land acquisition and subdivision of the property into two lots. When completed the borrower would construct a new house and renovate the existing house. The new house was sold in January of 2016 for $5,700,000