ERG Commercial Real Estate recently provided a $7.5 million bridge loan for the acquisition of a vacant industrial site spanning nine acres in Staten Island. The property, located at 501 Industry Road and measuring 40,000 square feet, is situated within Staten Island’s industrial zone. The transaction was facilitated by Ryan Lewis and Matthew Murphy of ERG.
According to Lewis, the borrower needed funds for another property and faced a strict year-end deadline. However, through clear expectations setting and assertive efforts from all parties involved, the deal was able to close swiftly within the crucial timeframe.
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