Brick Capital Partners funds $6.5 million first mortgage for 119-unit co-op; Fink of Midtown Financial is broker

Eric Roth, Brick Capital Partners

Yonkers, NY Brick Capital Partners, through an affiliate entity, funded a $6.5 million first mortgage to a 119-unit cooperative apartment building. The co-op intends to utilize nearly $3 million of the loan proceeds to make major capital improvements within the buildings. 

According to Brick’s Eric Roth, “We were able to close the loan within two weeks of application in order to allow the cooperative to take full advantage of a year-end prepayment waiver that was offered by the prior lender.” 

Raphael Fink of Midtown Financial was the broker in the transaction.