Silver Arch Capital Partners Announces Closing of $14.5 Million Bridge Loan for The Oosten Condominium Units in Brooklyn, N.Y.

Hackensack, N.J., Feb. 19, 2025 /PRNewswire/ -- Silver Arch Capital Partners is pleased to announce the successful closing of a $14,500,000 bridge loan on eight unsold condominium units and 74 parking spaces. The loan, which has a loan-to-value (LTV) ratio of 65%, is set for a term of one year with extension options.

The borrower sought the bridge loan to refinance their existing debt. "Given the unique nature of this property and the borrower's needs, we were able to structure a loan that provides the necessary flexibility and support," said Jeffrey Wolfer, President and CEO of Silver Arch Capital Partners, a Hackensack, New Jersey based private lender.

The subject property, known as The Oosten, is an eight-story, 216-unit Class A condominium located in the southern part of the Williamsburg neighborhood of Brooklyn. Boasting very large units and full amenities, it was designed by renowned architect Piet Boon and developed by the borrower in 2015. After successfully selling out the rest of the building, the developer's remaining inventory consists of eight residential condo units with a total net saleable area of 24,799 square feet, along with 66 vehicle and eight motorcycle parking spaces.

The collateral includes one two-bedroom unit, six three-bedroom units and one six-bedroom unit, with an average size of 3,100 square feet. Property amenities feature two attended lobbies, 24-hour concierge service, indoor swimming pool, landscaped roof deck, interior courtyard, children's playroom and a fitness center.

About Silver Arch Capital Partners
Silver Arch Capital Partners is a leading nationwide private lender to the commercial real estate market, specializing in bridge loans to owners, investors and developers in need of funding outside the scope of traditional banks and lenders. Formed with the mission to assemble the most highly creative minds in real estate lending under a single banner, the firm recognizes the importance of access to capital in turbulent times. Its partners, who have closed over $2 billion in loans, have the knowledge and insight to guide a borrower through the entire loan process, from initial review through closing. For more information, visit www.SilverArchCP.com.

SOURCE Silver Arch Capital Partners