Senior construction loans that turn older office buildings into apartments and condominiums, from a New York-based private lender.
Bravo Property Trust is a New York-based private lender that makes senior construction loans for office-to-residential conversions. It originated and led a $125 million construction loan to convert an office building on the DUMBO border in Brooklyn into rental apartments, with a new condominium addition built on top.
One credit team from the purchase to the finished building.
Finance the purchase or refinance of an office building with a clear plan to turn it into housing.
Senior construction financing for the conversion work, and for new floors such as a condominium addition, in one loan.
Where the senior loan isn't enough, BPT mezzanine loans run from $500,000 to $20 million, for up to 36 months, interest only.
Yes. BPT originated and led a $125 million senior construction loan to convert an office building in Brooklyn into rental apartments with a condominium addition on top.
Yes. The Brooklyn loan financed both the conversion of the existing building to rentals and a new condominium addition built above it.
Yes. The Brooklyn conversion BPT financed uses New York City's 467-m tax abatement program for office-to-residential conversions.
Speak directly with a decision-maker about senior construction and mezzanine financing for the conversion.
Contact usSee construction loans