JEWEL CAPITAL ARRANGES $1,445,000 SBA 7(a) LOAN IN FLUSHING, NY
JEWEL CAPITAL, a boutique commercial real estate finance and advisory firm, has recently arranged a $1,445,000 SBA 7(a) loan secured by two commercial condominium units within a new 6-story mixed-use condominium building located in Flushing, NY. With a high LTV at 87.6% and a competetive interest rate at 4.25%, this SBA loan was to purchase the subject property for $1.65 million and was closed within 60 days. The Borrower is an experienced doctor and owns two clinics in NYC. He intended to move one of his clinics to occupy the subject property in summer 2015. His total business revenue is more than sufficient to cover the debt service of this 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 $1M to $50M. The subject property located in the Flushing neighborhood, is near the intersection between 41st Ave. and College Point Blvd. The new building was completed with issuance of C/O in January 2015. The subject property is zoned for community facility use, with a total area of 2,121 square feet.
Flushing is the largest commercial and retail area and the fourth largest central business district in New York City. Flushing is served by five railroad stations operated by the Long Island Rail Road bounded to the Port Washington Branch, as well as the New York City Subway’s #7 line whose terminus at Main Street. Flushing Chinatown is one of the largest and fastest growing ethnic Chinese community outside of Asia.
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:
P: (347) 535-1314 ext. 101
F: (347) 535-1314