Mixed-Use Gut Renovation
East Village, Manhattan
Lancewood Capital provided a $5,200,000 bridge loan to finance the acquisition and renovation of a mixed-use property in the East Village neighborhood of Manhattan. The Sponsor was seeking competitive short-term financing with the necessary proceeds to renovate all free market units. Lancewood Capital was able to provide the Sponsor with a non-recourse debt facility competitively priced below 7.0%.