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$1,136,000 : Parking Garage, Brooklyn, New York
New York based Mercury Capital Corporation, a bridge financing institution, is pleased to announce that it has recently funded a one-year $1,136,000 first mortgage secured by a parking garage in the Cobble Hill Section of Brooklyn, New York.
Our borrower, a substantial real estate owner, refinanced this unencumbered property. The proceeds of the loan will be used as working capital for the borrowers existing operations, the low loan to value allowed Mercury to close this transaction in 2 weeks, explained Marc Gleitman, President at Mercury Capital.
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 $15,000,000.
For more information please contact Mercury at 212.661.8700
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