Description

ERG Commercial Real Estate is proud to announce the recent closing of 40-37 76th Street and 39-18 61st Street in Woodside, Queens. ERG facilitated a $2,000,000 private loan on the acquisition of the mixed use property located on 40-37 76th Street with additional collateral of a three family building located at 39-18 61st Street. ERG understood the borrowers needs and created a loan and structure that was beneficial to the borrower. The term of this loan is for one year with an option for a second year. ERG Commercial Real Estate is already working with the borrower to replace this private debt with traditional financing.