165 East 116th Street

Location: New York, NY
Type: Mixed Use
Price: $ 4,200,000

SMC’s $4,200,000 first mortgage loan is collateralized by a newly renovated mixed use, 9,757SF, 4-story walkup apartment building containing 9 apartments and 2 ground floor retail spaces on East 116th Street between Lexington and 3rd Avenue in Manhattan. The subject financing relinquished a portion of the Sponsor’s total proceeds to develop the Subject. The balance outstanding results in approximately 23.7% of equity remaining in the Property.