ERG Commercial Real Estate recently provided a $7.5 million bridge loan for the acquisition of a vacant nine-acre industrial site in Staten Island. The property, located at 501 Industry Road and spanning 40,000 square feet, is situated within the city’s designated industrial zone. ERG’s Ryan Lewis and Matthew Murphy facilitated the transaction with their expertise.
According to Lewis, this deal faced a tight deadline due to the borrower needing funds for another property. However, by setting clear expectations and maintaining assertiveness throughout the process, along with diligent efforts from all parties involved, they were able to successfully close within the crucial timeframe.
This financing news highlights ERG’s commitment to providing strategic lending solutions for commercial real estate transactions in New York City.
