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Commercial Develop Bridge Loan 602

Brooklyn, NY
8.00%
Annual Return

COMPLETED
Investment Summary
This is an opportunity to invest in an ambitious on-going land development project in Sunset Park, Brooklyn. The borrower is seeking a $3 million ( including $1 million listed on CF) short-term capital to extend the process time frame for its mortgage loan from bank. Investors are expecting to receive an estimated annual return rate at 8% (simple interest) within the term. Loan term 6-12 months. The bridge loan is secured by property guarantee, corporate guarantee, and personal guarantee.

Investors are expecting to receive an estimated annual return rate at 8% (simple interest) within the term. Loan term 6-12 months. The bridge loan is secured by property guarantee, corporate guarantee, and personal guarantee.

The plan is to create a fun shopping experience like Chelsea Market for the residents in Sunset Park and its nearby neighborhoods.

Property Overview
  • Property: Mixed-use development
  • Location: 8th Ave, Sunset Park, Brooklyn
  • Sq.Ft. of Property (Before development): 158,311 Sq.Ft.
  • Sq.Ft. of Property (After development): 1,215,022 Sq.Ft.
  • Buildable Area: 759,299 Sq.Ft.
  • Architecture and Co-developer: Raymond Chan Architect P.C.

The borrower is an experienced land developer in the local market, have designed the developed countless projects in the Great New York area over the past three decades, architect and land developer Raymond Chan is a co-developer of the project.

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