Land Loan – Brooklyn, NY – $550,000
A Masonic group based out of Louisiana came to H&O Capital Funding looking for a loan on an approximately 4,000 SF parcel of land in Bedford-Stuyvesant. There were a few complications as the land was adjacent to a building that the group owned as well on a single tax lot. The subdivision wasn’t as easy to accomplish as they had hoped so H&O Capital ended up loaning on the entire parcel, with a caveat that once the subdivision was completed the building would be released from the loan.
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