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ERG Capital Advisors Announces the Loan Acquisition of Bronx and Manhattan Portfolio

New York – January 29, 2015 – ERG Capital Advisors is pleased announce the closing of a loan to acquire 356-364 East 139th Street, a development site in the up and coming Mott Haven section of the Bronx.  

The development site sits mid-block on the south side of 139th Street between Alexander Avenue and Willis Avenue. The Borrower plans to construct a 41 unit rental apartment building on the site. 
 
The Borrower put up three additional pieces of property to secure the loan. They plan to sell one of the additional properties within the loan’s term to pay back the loan and begin their new project. The owner would be able to pay off the loan in full with the sale of any of the properties. The portfolio of the properties is valued at a conservative $8,500,000. 
 
The loan amount was $1,900,000.
 
For more information about this loan, please contact ERG Capital Advisors at 212.807.6640 or info@ergpa.com.
 
 
About ERG Capital Advisors
ERG Capital Advisors is a full service commercial real estate loan advisory firm and direct capital service provider based in New York City. Our core services are the arrangement of debt on investment real estate in the form of 1st and 2nd mortgages, mezzanine loans, and through strategic alliances with direct private lenders, the arrangement and participation of equity or joint venture deals. Visit www.ergpa.com for recent loans and press coverage.



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