Posted on Mar,01 2021
by Rich Salinaro in Blog
$450,000 Second Mortgage – Masonic Temple – Brooklyn, NY
A fraternal order of Freemasons based out of Brooklyn, NY came back to H&O Capital Funding looking for a bit more cash to help clear off some debts that had accumulated during the pandemic. The borrowers, who rely on the proceeds from renting out the temple for various events, have not been able to host an event since the pandemic began. There really wasn’t a good option to quickly raise some funds to take care of their outstanding debts, aside from a membership assessment, which they desperately wanted to avoid. Based on their current relationship with H&O Capital they reached out looking for a small second mortgage to keep them afloat until things open up again. Despite a few title insurance issues, the loan closed in less than a month.
H&O Capital Funding has helped countless real estate buyers, sellers, lessees and lessors achieve their goals. Our legacy is unwavering commitment to the communities we serve. Houlihan & O’Malley Commercial Real Estate Services specializes in four distinct, yet overlapping, areas of business: Commercial Brokerage services, Private Mortgage services, Appraisal Services and Advisory services.
For more information on loans that we offer, visit our website.