Largo’s Manhattan Office Secures $2.58 Million for Mixed-Use Bridge Loan and Condo Units
MANHATTAN, NY – September 29, 2020 – Dave Carswell, Managing Director for Largo Capital in Manhattan, provided financing for a 7,800 SF mixed use property in North Bergen, New Jersey. Carswell was able to secure a $1.0 million bridge loan for 18 months interest only and close the transaction within three weeks.
Additionally, Carswell secured two loans totaling $1.58 million for an investor of residential condo units in Manhattan and the Hudson Valley. The 75% leveraged transaction featured a long term fixed rate with a 30-year amortization. The lender locked rate at application with this niche program for small balance investment properties in the NY-metro area.
For more information, please contact:
O: 212.439.4711 | C: 917.246.8339
The Largo Group of Companies, is a commercial mortgage banking firm that structures, closes and services commercial mortgages for acquisitions, refinances and redevelopment projects. Largo arranges innovative commercial real estate financing structures for borrowers throughout the United States and Canada. We manage the loan process from loan application through closing and service the loan through its term.
Largo has 25 correspondent relationships and offers additional lending sources, providing property owners and developers long-term, non-recourse commercial real estate financing at a competitive fixed rate.