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Jacobs Real Estate has had a busy couple of months:

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1190 Clay Ave Bronx, NY

 

1041 Elder Ave, Bronx, NY – Loan Origination

Jacobs Real Estate Advisors, LLC provided a $500,000 acquisition loan in the Soundview neighborhood of Bronx, NY.  The property is located on Elder Avenue between Watson Avenue and Bruckner Blvd. The property has 5 units with a building size of 3,420 square feet. We were able to close this loan in 6 days.

 

644 Barretto Bronx, NY – Acquisition

Jacobs Real Estate Advisors, LLC acquired a 4,000 square foot vacant property in the Hunts Point section of the Bronx for $750,000.  The property will be gut renovated and converted to a 6 family. The plan is to have the renovations complete in 4-6 months and lease up immediately following.

 

1401 Dean Street Brooklyn, NY – Membership Interest with Buyback

Jacobs Real Estate Advisors funded the acquisition of a 5-unit, multi-family property in the Crown Heights section of Brooklyn, NY in which property was being acquired from an Estate. The buyers negotiated a short sale with the prior lender and funded the judgement liens that were on the property. Through various scenarios Jacobs worked to structure and get the acquisition closed in a timely fashion.

 

1190 Clay Ave Bronx, NY– Loan Origination

Jacobs Real Estate Advisors, LLC provided a $1,000,000 acquisition loan in the Claremont neighborhood of Bronx, NY.   The property has 11 units with a building size of 10,980 square feet. We were able to close this loan in 7 days.

 

Chicago Multifamily – Membership Interest with Buyback

 

Jacobs Real Estate Advisors, LLC funded 86% of the purchase price for a 76-unit seven-story mid-rise apartment property located at in Chicago, Cook County, Illinois. It was built in 1928 and is situated on a 10,100-square foot site. The acquiring entity assigned our entity their interest in the property and has certain buy back options.

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