Crown Heights Multifamily

Short Term Capital has funded a $550,000 loan to the owner of  a four-story, 16-unit multifamily building located in the Crown Heights neighborhood of Brooklyn. The proceeds were used to replace the existing debt and to save the owners from foreclosure.

The subject property is 14,596 sf and sits on a 5,416 sf lot. “We were happy to save the borrowers from foreclosure. The building has been in their family for over 50 years.” said Short Term Capital’s Finance Director Mary Guarino.

  • $550,000Amount
  • Brooklyn, NYPlace
  • May 2023Year
  • Bridge LoanType