Skybrook Capital’s debt division sources commercial real estate bridge loans to borrowers who need immediate financing. IN THIS CAPACITY, WE HAVE EVOLVED INTO ONE OF NEW YORK CITY’S PREMIER REAL ESTATE FINANCIERS, TAILORING EACH LOAN TO THE SPECIFIC NEEDS OF THE BORROWER AND PROPERTY. WE ARE ACTIVELY SEEKING TO SOURCE NEW LOANS THAT MEET THE FOLLOWING CRITERIA:
- Loan Amounts: $500,000 – $20,000,000
- Interest Rates: Average between 10% – 12% (rates vary depending upon collateral & loan structure)
- Terms: 6 Month – 24 Months
- Origination Fees: Negotiable
- Loan to Value: Up to 65%
- Loan to Cost: Up to 70%
- Security: Typically first mortgage; will consider second mortgage & mezzanine
- Property Types: All types considered except residential owner-occupied
- Use of Proceeds: Acquisitions, refinancing, upgrading, cash out purposes, construction
- Locations: Continental United States with a core focus on New York City
- Prepayment: 6 Months
- Amortization: Interest Only
- Recourse: Personal guarantee typically required
- Borrower: Single purpose entity ownership structure typically required
- Closing Period: Typically 7-14 business days; can close within 3 business days if necessary