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$2,500,000 : Two Story Mixed Use Property, Brooklyn, NY
New York based Mercury Capital Corporation, a bridge financing institution, is pleased to announce that it has recently funded a two-year $2,500,000 first mortgage secured by a two story mixed use property in Brooklyn, New York.
"Our borrower, a local real estate developer, needed a quick closing for the acquisition of this vacant mixed use property, located in the Brooklyn Heights section of Brooklyn. Mercury provided 75% of the acquisition costs. Our financing allowed the borrower to close on a vacant property in a quick time frame," explained Marc Gleitman, President at Mercury Capital. Mercury provided a blanket mortgage securing both the newly acquired property and an existing mixed use building which the borrower already owned.
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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