$500,000 Blanket 2nd Mortgage – Two Retail Properties in Montauk, NY
H&O Capital Funding was contacted by one of their repeat borrowers for a quick $500,000 second mortgage on two retail properties in Montauk, NY. H&O Capital actually holds one of the first mortgages, $2,000,000 on a single story retail property with a 7-11 corporate lease. The other property used for additional collateral, is a two-story retail property with a restaurant and a large sporting goods store. Both properties are in excellent location in downtown Montauk, NY. H&O Capital was able to get this done in under a month to help the borrower out with some unexpected bills he had coming due.
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