Landmark Realty Capital arranges $6 million for IB Broadway LLC; construction loan for seven-story 104-110 Broadway

Landmark Realty Capital has arranged a $6 million first mortgage on behalf of IB Broadway LLC to finance the completion of a mixed-use building. The seven-story property, located at 104-110 Broadway in the Williamsburg neighborhood, features 40 residential units that will be used as rentals and two commercial units. John Chiappetta, CPA, managing director of Landmark Realty Capital, represented the client. "We were able to negotiate favorable terms and conditions in spite of the difficult credit environment, especially as it relates to construction financing," Chiappetta said. "As this transaction indicates, we're dedicated to finding innovative solutions that help our clients meet their financing objectives." Landmark Realty Capital Fund, LP, was founded in 2009 by Chiappetta. It is a U.S. based private fund that provides an alternative source of commercial real estate financing for property owners that do not qualify or choose not to obtain conventional financing. The firm is available to lend on properties located in the New York Tri-State area. Landmark Realty Capital also can arrange for conventional financing through a vast network of strategic alliances, and has the ability to assist in all phases of the capital structure, including debt and equity placements, for projects nationwide.