Edgewood closed a $7,750,000 first-mortgage bridge loan for the refinance of 16,000 SF of mixed-use retail and office condos at 72-74 Warren Street in New York, NY. The structure provided the sponsor with time to market and sell the ground-floor retail condos, leveraging a strong loan basis of $493 PSF (64% LTV) in a supply-constrained Tribeca market. Edgewood remains active in the $2MM-$8MM bridge lending space for transitional assets in core urban markets.
