40-41 Junction Blvd

$2,000,000 bridge loan secured by a first mortgage on a four-story mixed-use property consisting of 6 residential and 2 retail units, located at 41-40 Junction Boulevard in the Corona neighborhood of Queens, New York. The property consists of six 2-Bedroom/2-Bathroom residential units and two medical units on the ground floor. Edgewood’s loan will be used to pay off existing debt, provide limited cash out, and set up an interest and operating reserve. All renovations were recently completed in 2017 and are expected to be fully leased by year end.