Silver Arch Capital Partners announced a loan financing of $4,100,000 secured by an apartment at 60 Beach Street in Manhattan.
The three-bedroom, 3-bath 5,000 s/f Tribeca residence occupies four floors with a backyard courtyard.
Jeffrey Wolfer, president and CEO of the Hackensack, NJ-based Silver Arch Capital Partners said, “The borrower will pay off an existing mortgage and utilize the remaining proceeds to invest in other business opportunities.”
Silver Arch Capital Partners is a nationwide private lender to the commercial real estate market, specializing in bridge loans to owners, investors and developers in need of funding outside the scope of traditional banks and lenders. Its partners have closed over $2 billion in loans.