JEWEL CAPITAL, a boutique commercial real estate finance and advisory firm, has arranged a $2,500,000 bridge loan secured by a development site located in New York City. This refinance loan was aiming to cash out from the development site to fund the first few months of the construction. The conventional construction loan was approved and pending for closing within a few months.
The loan was arranged by Samuel W. Li, founder of Jewel Capital. According to Mr. Li, Jewel Capital’s sweet spot as real estate advisors for development or redevelopment projects is from $500K to $50M.
The property, located in the Lower East Side neighborhood of New York City, is near the intersection between the Grand Street and the Orchard Street. The property is a development site, with a total area of 3,536 square feet. The existing structure was built in 2010.
The Lower East Side is a neighborhood in the southeastern part of the New York City borough in Manhattan. Traditionally an immigrant, working-class neighborhood, it has become a home to upscale boutiques and trendy dining establishments. This area has a population of 39,772 and residences are mostly Asians, Hispanics, and Whites. The household income of this area in 2011 was $43,452, compared to $49,461 of New York City. The median age of this neighborhood is 38.6 (35.6 of the city). Multiple New York City Subway lines operate in the neighborhood, including B, D, F, M, J, Z. New York City Bus routes include M9, M14A, M14D, M15, M15 SBS, M21, M22, M103, and B39. The Williamsburg Bridge and Brooklyn Bridge connect the Lower East Side to Brooklyn, and the FDR Drive is on the neighborhood's south and east ends.
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 (212) 231-9783
Fax: +1 (347) 535-1314