BridgeInvest Closes a $42.25 MM Acquisition Loan in New York City
1st Priority Mortgage Loan
Loan Amount
$42,250,000
Property Type
Office
Location
Greenwich Village, NYC
BridgeInvest is excited to announce the closing of a $42.25 million loan to finance the acquisition and renovation of a 95k SF boutique office building in Greenwich Village, NYC. Upon acquisition, the sponsor plans to carry out a series of physical improvements, including a renovation of the rooftop amenity space and lobbies, as well as the buildout of several office floors to make spaces turn-key ready.
Transaction Highlights:
- New acquisition & renovation in burgeoning NYC office market
- Institutional sponsorship & management
- Creative structure with future fundings tied to leasing momentum & business plan execution
