Description

ERG Commercial Real Estate is proud to announce the recent closing of 1146 White Plains Road and 681 Van Nest Avenue in the Bronx. ERG facilitated a $630,000 private loan on the acquisition of the mixed use property located on 681 Van Nest Avenue with additional collateral of a three family building located at 1146 White Plains Road. 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.