JEWEL CAPITAL, a boutique commercial real estate finance and advisory firm, has recently arranged a $1,575,000 refinance loan secured by a commercial condo building located in Sheepshead Bay, Brooklyn. With a competetive interest rate fixed at 4.00%, this 100% cash-out refinance loan at 70.0% LTV was for investment on other real estate properties. In addition, the loan was a 25-year fully-amortized loan.
The loan was arranged by Samuel W. Li, the founder of Jewel Capital. According to Mr. Li, Jewel Capital’s sweet spot as brokers for commercial real estate deals is from $1MM to $50MM. The subject property, located in the Sheepshead Bay neighborhood of Brooklyn, is near the intersection between Avenue V and Ocean Avenue. The property is a commercial condo building with 5 unsold units totaling 8,597 SF and 2 parking spaces. The existing structure was built in 2010.
Sheepshead Bay is a bay separating the mainland of Brooklyn, New York City, from the eastern portion of Coney Island, the latter originally a barrier island but now effectively an extension of the mainland with peninsulas both east (the neighborhood of Manhattan Beach) and west (the neighborhoods of Coney Island and Sea Gate). The mouth of the bay is about 1.0 mile (1.6 km) southwest of Marine Park, Brooklyn. The area is part of Brooklyn Community Board 15. As of 2007, there were 123,181 people living in the Sheepshead Bay neighborhood. The demographics were 75.4% White, 14.60% Asian, 6.60% Hispanic or Latino, 4.7% African American and 0.2% Native American. Brooklyn's Avenue U Chinatown, which emerged as the 2nd Chinatown of Brooklyn during the late 1990s, is located partially in Sheepshead Bay.
JEWEL CAPITAL is a boutique New York-based commercial real estate finance and advisory firm. By leverage our unique lender relationships developed over the years, we are able to provide our clients with tailored, best-in-class financing solutions primarily in the Greater New York metropolitan area. At Jewel Capital, we are committed to guide our clients through every step of the deal-making process, and we hope to add a “Personal Touch to Your Financing Needs”.
For more information about JEWEL CAPITAL, please contact:
Tel.: +1 (347) 535-1314 Ext.101
Fax: +1 (347) 535-1314