Commercial Real Estate Financing
Essencap successfully closed on a $1,600,000 six family apartement building in Bath Beach, Brooklyn, NY.
We are pleased to announce that Essencap successfully arranged a commercial real estate loan. The subject property is improved with a three story, six family 2-bedroom apartment building. It has a total building area of 3,400 square feet. The site has a total area of 2,250 square feet and is zoned “C1-3” with an “RA” overlay.
The borrower is a successful investor who already own similar building. Essencap was retained by the purchaser to ensure smooth and fast loan execution plus better pricing on the loan term. Essencap provided commitment letter one week after the appraisal report. The completed total process time within 30 days.