Just Closed: $6.5M Term Loan in Chelsea & Astoria – Another Loanfunders.com Success Story

Late Friday, Loanfunders.com LLC proudly closed a $6,500,000 first mortgage term loan (the “Loan”) secured by two exceptional New York City assets:

• The Chelsea Asset: A 4,600 SF fully occupied 2-story retail building with 9,500 SF of excess air rights, prominently located on a corner lot in Chelsea, Manhattan. It features 50’ of frontage on a major north-south thoroughfare, a liquor store leased until 2038 on the ground floor and cellar, and a long-term lounge tenant occupying the upper level since 2010.

• The Astoria Asset: A 20-unit, 12,800 SF stabilized multifamily building in a highly desirable area of Astoria, Queens. This 4-story walk-up is 95% occupied and situated near major attractions such as Astoria Park, the Museum of the Moving Image, and top-rated schools.

This deal wasn’t simple—it required the concurrent settlement of a complex legal proceeding related to the sponsor’s long-standing investment, as well as a refinance of the existing first mortgage liens. Beyond that, the transaction provided critical working capital to help the sponsor restructure and stabilize his broader investment portfolio.

At Loanfunders.com, we pride ourselves on going above and beyond for our clients. For this transaction, our team didn’t just process paperwork—we personally visited the borrower’s home, organized documents, and coordinated appraisals and environmental inspections while the borrower was traveling abroad.

That level of commitment isn’t a one-time thing—it’s how we operate every single day. Our clients trust us because we handle the heavy lifting, simplify the process, and deliver results under tight timelines and challenging circumstances.

When you work with Loanfunders.com, you get more than a broker—you get a dedicated partner who treats your deal like our own.

Looking for a financing partner who will make your life easier?
Reach out today and experience the Loanfunders.com difference.