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$4,750,000 : Residential Development Lots, Amagansett, New York
New York based Mercury Capital Corporation, a nationwide bridge lender, is pleased to announce that it has recently funded a two-year $4,750,000 first mortgage secured by 3 fully approved residential development lots in Amagansett, New York.
"Working with a quick-fuse opportunity, our borrower required a flexible lender, able to structure a transaction that allowed for both a short lock out period and the ability to pay down our principal as the individual lots were sold off," commented Marc Gleitman, President at Mercury Capital. "With the clock ticking, Mercury funded with the characteristic speed and agility it has built its reputation on."
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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