– $265,000 First Mortgage – Two-Family – Bronx, NY
$265,000 First Mortgage - Two-Family - Bronx, NY
H&O Capital Funding was approached by this borrower looking to borrow some funds to help finish his renovation of a 3-family dwelling. The only issue was that the Certificate of Occupancy indicated that the property was a 2-family home, not a 3-family. Because of this discrepancy, the borrower could not get conventional financing and needed a lender with the experience and the know-how to help him navigate the department of buildings.H&...
– Commercial Real Estate Investment Changes in 2019
Still a Good Investment in 2019?
“Is Commercial Real Estate still a
good investment in 2019?” This is a common question we’ve been asked over the
past few months. The answer is unequivocally yes, however, as with any
investment, you need a sound strategy and to do your homework before buying in.
The market has been shifting for some time, specifically the office and retail
sectors, as changes in technology influence tenant requirements. Investing in
those markets will take careful plan...
– $285,000 First Mortgage – Freestanding Restaurant Property – Glen Cove, NY
$285,000 First Mortgage - Freestanding Restaurant Property - Glen Cove, NY
Another day, another quick closing for H&O Capital Funding! The borrower here got into the restaurant business a few years ago and within his first three weeks there was a fire and the entire restaurant went up in flames. After spending two years, and the majority of his own savings rebuilding the restaurant, the restauranteur and the landlord had a falling out. To make a long story short, there was a co...
– $500,000 First Mortgage – Three-Family plus Office – Yonkers, NY
$500,000 First Mortgage - Three-Family plus Office - Yonkers, NY
In this deal, the borrower came to H&O Capital Funding needing a loan to help prevent a foreclosure. The borrower here got into some financial trouble and missed some mortgage payments. He needed a quick loan to stop the foreclosure process while he works on repairing his credit and refinancing with a conventional lender. In stepped H&O Capital Funding to the funds he needed to payoff the current lender to end the for...
– $1,100,000 First Mortgage – Investment Condo – Brooklyn, NY
$1,100,000 First Mortgage - Investment Condo - Brooklyn, NY
This was another unique situation H&O Capital was able to navigate to ensure a deal got done. In this case, the borrower was the lead developer on a large condominium project in the Williamsburg area of Brooklyn. Part of his agreed upon development fee granted him title to 3 of the units in the building once completed. Upon completing the project, the sponsor tried to renege on their promise. The sponsor, with their extremely...
– $360,000 First Mortgage – Two-Family Home – Brooklyn, NY
$360,000 First Mortgage - Two-Family Home - Brooklyn, NY
Less than 10 days to close! In this deal, the borrower came to H&O Capital Funding needing to close ASAP. With less than two weeks to pay off the current mortgage, the borrower was desperate for a lender that could not only close quickly, but do so right around the Christmas holiday. Based on a recommendation from a colleague, the borrower contacted H&O Capital to help provide the funds he needed in time. H&O Capital was ab...
– $850,000 First Mortgage – Three-Story Mixed-Use Building – Brooklyn, NY
$850,000 First Mortgage - Three-Story Mixed-Use Building - Brooklyn, NY
A blast from the past! A borrower who previously worked with H&O Capital Funding about 3 years ago reached out looking for funds on his newest project. Having recently inherited a mixed-use property in the Bushwick section of Brookyln, the borrower came to H&O Capital for some funds to help finish the interior renovation of the building. H&O Capital was able to give him the loan in under three weeks despite a ...
– $225,000 Third Mortgage Loan – 4-Story Townhome – Harlem, NY
$225,000 Third Mortgage Loan - Four-Story Townhome - Harlem, NY
Having heard great things from a colleague of theirs who had worked with H&O Capital Funding recently, a borrower contacted H&O Capital Funding needing some quick cash for another deal he was working on. Using the last bit of equity he had in a four-family town home near Marcus Garvey Park, he came to H&O Capital looking for a small third mortgage loan of $225,000. Despite a number of hiccups along the way, H&O Cap...
Commercial Real Estate Loans
Commercial Real Estate Mortgages are used for a variety of reasons but, of course, the underlying reason for all of them is a borrower’s need for cash. Whether it be acquisition, renovation, development or just to free some cash up using the equity of the property, borrowers use commercial mortgages to make up for a shortfall in liquid assets.
Commercial real estate loans are typically made to business entities formed for the specific purpose of owning commerci...
– $2,000,000 First Mortgage – Five-Story Townhouse – New York, NY
$2,000,000 First Mortgage - Five-Story Townhouse - New York, NY
Recently, H&O Capital Funding was contacted by a few board members of a highly prestigious and well known private club in midtown Manhattan. With an aging headquarters in need of some renovations, the club reached out to H&O Capital Funding for some quick cash to clear up some minor debts and begin to renovate portions of the club headquarters. Although there were a few administrative challenges due the nature of the prop...