BridgeInvest Funds $6.5 MM Loan for Luxury Manhattan Condo
1st Priority Mortgage Loan
BridgeInvest recently closed a $6.5 MM loan which will refinance a 3,424 square-foot condominium in New York City’s Upper East Side. The property features five bedrooms, five and a half bathrooms, a fireplace, and an uncovered terrace with irreplaceable views of Central Park.
Transaction Highlights
Funds for Investment
The Sponsor will use the business purpose loan to pay off an existing $5 MM loan and pursue other investment opportunities.
Expanding New York Presence
The Loan represents BridgeInvest’s continued expansion in the Northeast and is the second loan BridgeInvest has closed in the New York Tri State area in the past 30 days.
Unique Property
BridgeInvest was able to successfully underwrite the property despite lack of comparable properties trading in today’s market.
