On September 28, 2023, in SAN DIEGO, CA, Wilshire Quinn Capital announced its latest financial transaction. The Wilshire Quinn Income Fund provided a significant $465,000 cash-out refinance loan in the vibrant borough of Brooklyn, New York.
PROPERTY HIGHLIGHTS
Property Type: This transaction involves a 3-unit multi-family property located in the thriving Brighton Beach neighborhood of Brooklyn.
Property Details: The property boasts 2,520 square-feet of living space, comprising 8 bedrooms and 5 baths, all situated on a 3,000 square-foot lot.
LOAN DETAILS
Loan Amount: The loan amount extended for this transaction is $465,000, providing substantial financial support.
Loan Type: This represents a Cash-Out Refinance, offering flexibility to the borrower.
Lien Position: Wilshire Quinn holds the 1st Trust Deed (TD) position, ensuring priority and security in the lending arrangement.
Property Type: The property falls under the Multi-Family category, reflecting its investment potential.
Loan-To-Value: The loan-to-value ratio stands at 50%, aligning with prudent lending practices.
Term: The financial agreement has a 12-month term, delineating the investment timeline.
Wilshire Quinn’s role in this transaction demonstrates its expertise in private lending, supporting real estate ventures in dynamic markets like Brooklyn, New York..
