Silver Arch Capital Partners, a Hackensack-based private real estate lender, has closed a $5,660,000 loan for a newly developed mixed-use property in the New York metropolitan area.
The financing is secured by a fully leased, 16-unit apartment building with two ground-floor retail spaces, developed by borrower BGNYAVE, LLC to meet growing demand for residential and commercial space in the market.
The loan was structured with a competitive interest rate and flexibility for the borrower to benefit from future market conditions, allowing BGNYAVE to take advantage of lower borrowing costs if interest rates decline in the coming years.
The property is in Huntington Station, New York.
Jeffrey Wolfer, president and CEO of Silver Arch Capital Partners, said the firm is proud to partner with experienced developers like BGNYAVE.
“Our goal is to structure loans that meet our clients’ current financing needs while positioning them to benefit from favorable market opportunities in the future,” Wolfer said.
Silver Arch Capital Partners specializes in bridge, construction and permanent financing for commercial real estate, with rates starting at SOFR+300 basis points, serving investors and developers across the New York metropolitan area.
