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Hudson Realty Capital Funds $6M Construction Loan Upsize in Brooklyn's North Williamsburg
Borrower Previously Secured a $4.65 Million Bridge Loan for Condo Conversion
"The borrower came back to Hudson for the loan upsize in order to complete building-wide renovations and proceed with the business plan," said Spencer Garfield, managing director. "Demand for construction-
Once pre-development work is completed, the five-story property will undergo a comprehensive renovation and repositioning as residential condominiums. Upon completion, the turn-of-the-
Hudson's activities continue to focus on originating and purchasing senior debt in New York City and nationally. Recent transactions include a $5.275 million first mortgage loan, secured by a 13,707-square-
Established in 2003, Hudson has closed more than $3.5 billion in transactions since the formation of its initial two funds. Activities include originating, purchasing, participating in, servicing and restructuring special-situation debt. In addition, the company is active in large loan-portfolio acquisitions and asset management activities. Hudson also invests directly in real estate and acquires under-performing assets and other real estate-related instruments.
Headquartered in New York City, Hudson maintains regional offices in Portland, Maine and Fort Myers, Florida. The company has been named among the New York area's largest privately held companies and largest minority-owned companies, as well as one of the Top 25 lenders nationally.