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Century Capital Partners Makes Big Move in the Big Apple with Blue Moon Hotel Loan

New Jersey-based Private Commercial Real Estate Lender Closes on $7 Million Deal on Stately 8-Story Boutique Hotel in Manhattan’s Lower East Side

 
 
The Stately Blue Moon Hotel on Manhattan's Lower East Side
PRLog - April 30, 2014 - MANHATTAN, N.Y. -- Century Capital Partners – a private hard money lender based out of New Jersey – has taken part in commercial real estate deals the world over. From international loans that stretch from Puerto Rico to Sicily, to domestic transactions that reach as far south as Orlando, Florida and as far west as Big Bear, California, Century Capital Partners specializes in short term asset-based loans. With the majority of their lending taking place within their headquarters’ big backyard – to include locations throughout New Jersey and several of the boroughs of New York, Century Capital Partners had set its sights on Manhattan as a market in which it would like to become more involved. Thanks to a $7 million loan on the award-winning Blue Moon Hotel in East Village, this leader in the realm of direct lending has made its first big move in the Big Apple.

“Conventional financing options available to small business owners remain extremely hard to come by,” explains David Hecht, President of Century Capital Partners. “Because we are a direct commercial real estate lender, my associates and I are able to recognize the fact that each loan we consider often presents unique circumstances. For one, Manhattan is a marketplace in which we have always shown great interest, but had not yet found the right opportunity. We partner with businesses throughout New Jersey and in Brooklyn fairly regularly and have fostered an excellent reputation in the area because of those dealings – which fortunately led the owners of the Blue Moon Hotel to find us. Secondly, we have to consider the property itself and the promise it holds. Not only is it located in one of the city’s trendiest and most desirable areas – Manhattan’s Lower East Side – the property is a very distinctive and stately hotel with a superlative standing as a recipient of the 2012 Trip Advisors Certificate of Excellence, honoree as the ‘Best Boutique Hotel” by National Geographic and City Search, and a critic’s pick in New York Magazine. We stepped in to replace the existing lender and closed the loan within two weeks.”

Located at 100 Orchard Street in East Village, the Blue Moon Hotel is an art preservation project. This 8-story 19th century former tenement building is comprised of 22 guest rooms and suites ranging in size from 320 to a spacious 750 square feet. Many of the rooms offer private balconies and stunning views of the city. The ground floor of the boutique hotel currently houses an expansive lobby, which is easily roomy enough to hold the promise of a future restaurant and/or bar to accommodate guests and pedestrian traffic in the area. A portion of the $7 million loan from Century Capital Partners will be devoted to minor renovations and interior design updates to reflect the historic style and discerning tastes that its location dictates. To learn more about the Blue Moon, please visit www.bluemoon-nyc.com.

As was the case with the Blue Moon Hotel – to ensure project funding, Hecht and his associates work closely with the clients they serve and place a major emphasis on innovation and efficiency. Commitments from Century Capital Partners are often issued within 48 hours, providing their borrowers with the assurance that a competent and trusted lending partner is at hand. All origination fees, including the commitment fee, are paid at closing. Interested parties who have a property investment in which they wish to seek the advice or ultimately involve commercial real estate lender, Century Capital Partners – either nationwide or within the tri-state area – are invited to call 877-335-5464 ext. 101 or email David@centurycapllc.com to discuss their financing needs. To learn more about Century Capital Partners and view their portfolio of recent domestic and international loan projects, please visit www.centurycapllc.com.

Contact
Kasie Bolling/Out of Her Mind Freelance
***@outofhermindfreelance.com

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Source:Century Capital Partners
Location:Manhattan - New York - United States
Industry:Loans, Real Estate
Tags:Century Capital Partners, David Hecht, Blue Moon Hotel, Commercial Lending NY, hard money lender
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