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$4,000,000 : Fully Entitled Land, Hoboken, NJ
New York based Mercury Capital Corporation, a nationwide bridge lender, is pleased to announce that it has recently funded a two-year, $4,000,000 first mortgage secured by a residential development site in Hoboken, New Jersey.
"Hoboken, with its proximity to Manhattan and comparatively reasonable cost to develop, is an area of extraordinary residential growth, commented Marc Gleitman, President at Mercury Capital. "The property is fully zoned for the construction of 75 residential units & 20,000 s/f of commercial space. Our financing will provide for a "bridge to construction" scenario, affording our borrowers sufficient time to position the subject for construction financing."
Mercury Capital Corporation, founded in 1989, offers borrowers an immediate financing alternative for short-term needs. Gap/Bridge financing, discounted mortgage buybacks, unpaid tax remittances, foreclosure workouts, bankruptcy resolutions and short fuse opportunity financing are all examples of transactions that can be closed with immediacy. Mercury Capital lends on commercial properties nationwide offering loan amounts ranging from $1,000,000 to $20,000,000.
For more information please contact Mercury at 212.661.8700
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