Multi-Family Financing

2076 Daly Avenue Bronx, NY

$1,300,000

Description

ERG Commercial Real Estate is proud to announce the recent finance closing for 2076 Daly Avenue in The Bronx. Matthew Murphy of ERG secured this $1,300,000 loan for a valued client. Due to strong cash flow, Matthew was able to secure a 5 year fixed rate with a 30 year amortization, and minimal COVID P&I reserves that will be released in a timely manner. The challenge was with a number of old DOB/ECB violations on the building. Matthew was able to find a lender that would finance with these violations in place as NYC Department of Buildings is backlogged on violation removal due to COVID.

Location

Address2076 Daly Avenue Bronx, NY
City NY
Zip/Postal Code
Country United States
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