Hanover Capital provided a $4,500,000 condo inventory bridge loan to a sponsor, secured by six luxury residential condominiums in the heart of Bushwick, Brooklyn. The financing allowed the sponsor to refinance an existing mortgage while providing the time and capital needed to gradually sell the remaining units with a top-tier brokerage.

Located in Bushwick, a rapidly evolving neighborhood in northern Brooklyn, the boutique condominiums feature sophisticated interiors, imported Greek Aluminco facades, and custom woodwork. Bushwick has experienced significant revitalization in recent years, blending its rich history, diverse community, and thriving arts scene. With its unique character and dynamic energy, Bushwick has become one of Brooklyn’s most exciting neighborhoods.

Hanover Capital provided a $8,000,000 bridge loan to a sponsor, secured by a mixed-use property in the heart of the Lower East Side, New York. The financing enabled the owner to retire an existing mortgage and provided the time and capital needed to execute their condo conversion plan. The ~40,000-square-foot asset features a renowned restaurant, a popular nightlife venue, and expansive loft apartments with high ceilings and large windows.

The Lower East Side (LES) is a vibrant neighborhood known for its dynamic dining and nightlife scene, offering an array of restaurants, bars, and music venues. On weekend nights, its streets come alive with young professionals from across the city. While LES boasts some of the most coveted residential real estate in New York, it remains a hotspot for its eclectic mix of culture, entertainment, and culinary experiences.

Hanover Capital provided a ~$2,700,000 bridge loan to a sponsor, secured by a mixed-use property in the heart of Nolita, New York. The financing allowed the owner to retire an existing mortgage and provide the time and capital needed to market and lease the vacant spaces. By securing high-quality tenants, the sponsor aims to significantly add to the property’s value.

Nolita, located at the crossroads of Soho, NoHo, the Lower East Side, and Little Italy, has developed its own distinct identity. With its trendy restaurants, bars, and boutiques lining its charming streets, Nolita has evolved from its neighbors to become one of New York City’s most desirable areas.Known for its fashionable retail scene, young professional residents, and high-end apartments, Nolita has matured into a destination neighborhood. Its cultural vibrancy, accessibility, and diverse retail offerings make it one of the most sought-after residential and commercial markets in the city.

Hanover Capital provided a $1,400,000 bridge loan to a highly experienced sponsor, secured by two adjacent vacant properties in Mott Haven, New York. The financing covered acquisition costs, soft costs, holding expenses, and securing the necessary approvals to start construction. The sponsor plans to renovate and reposition the assets, adding significant value to the properties.

Mott Haven, located in the heart of the South Bronx, is a vibrant and evolving neighborhood rich in character and history. Known for its dynamic culture and community, Mott Haven offers a unique blend of experiences and opportunities, making it a thriving hub for growth and development.

Hanover Capital provided a $17,000,000 bridge loan to a sponsor, secured by a elevatored mixed-use property in a prime Queens neighborhood. The asset features over 100 residential units and more than 100 garage spaces. The financing enabled the sponsor to refinance an existing mortgage while providing the time and capital needed to determine the property’s future direction. Hanover navigated the underwriting complexities of an expired J51 abatement and DHCR review using proprietary software, delivering certainty of execution to both the brokers and borrowers within 24 hours. The loan was approved within 24 hours and closed within 3 weeks, demonstrating our commitment to meeting borrower deadlines and delivering on promises made to both brokers and borrowers.

Situated in a central Queens neighborhood known for its family-friendly charm and modern convenience, the area attracts families, professionals, and retirees. With tree-lined streets, top-rated schools, and a welcoming atmosphere, it offers a unique balance of pre-war character and contemporary living. The neighborhood also features a vibrant mix of dining, shopping, and entertainment options, making it a sought-after destination for residents and visitors alike.

Hanover Capital provided a $19,500,000 bridge loan for a mixed-use assets in the heart of Tribeca. The loan served multiple purposes, including a condo inventory loan and the refinancing of a cash-flowing asset featuring boutique pre-war luxury condominiums, lofts/IMD units, rentals, office, and retail spaces.

Hanover demonstrated its expertise by quickly navigating the complexities of LOFT Law / IMD regulations, providing a quick closing process and giving certainty of execution to the borrowers.