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AVANT Capital Partners Originates Bridge Loan in Manhattan, NY
AVANT Capital Partners has originated a $2,350,000 bridge loan secured by a condominium unit located at 210 Lafayette Street, New York, NY.
FOCUS ON PROJECTS FROM $1M TO $10M
The loan was originated by Adam Luysterborghs, Founding Principal at AVANT. According to Mr. Luysterborghs, “We have a razor-sharp focus as lenders on financing the development or redevelopment of projects from $1M to $10M in Manhattan and all the boroughs.”
LOCATED IN THE HEART OF SOHO
The property is located in a building known as One Kenmare Square in the SoHo neighborhood of Manhattan. According to data from Cityrealty.com, in the past 12 months, there were 114 condo sales in SoHo and nearby NoHo. The average sales price for all sales was $3.65 million ($1,845/SF). SoHo features a mix of multifamily residential buildings, mixed-use and retail buildings.
STRONG DEMAND FOR CONDOMINIUMS
SoHo is a neighborhood in Lower Manhattan, which is popular for its variety of shops, ranging from small boutiques to large department stores such as Bloomingdale’
ABOUT AVANT CAPITAL PARTNERS
Avant Capital Partners is a balance sheet bridge lending firm. The loans are secured by commercial real estate located in New York, Connecticut and other Northeast Corridor markets from Washington DC to Boston. Avant Capital’s bridge program is geared towards assisting developers in capitalizing on time sensitive and other non-bankable transactions that require flexible financing.
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