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Eastern Union Funding Nabs $7 Million Hard Money Loan in Sub-Two Week Closing

Tuesday, January 6, 2015

One Year Solution Repositions Mixed-Use Property Situated in Heart of Prominent Queens Neighborhood


 Queens, NY – January 6, 2014: Eastern Union Funding, a rapidly ascending commercial mortgage brokerage serving the national sector, lived up to its anthem of speed and certainty of execution last week, when it closed a $7.3 million hard money loan.

“Two weeks after getting a term sheet we were sitting at the closing table,” said Eastern Union’s David Metzger, who co-brokered the deal with partner Nate Hyman.

Located at 84-53 Dana Court in Middle Village, a prestigious Queens enclave situated in the heart of that borough, the mixed use property consists of 47 residential units and 12 commercial spaces.

The 12-month hard money loan carries an interest rate of 10 percent without recourse. It was provided by Madison Realty Capital.

About Eastern Union Funding: Founded in 2001, Eastern Union Funding is a leading national commercial mortgage brokerage firm, employing over 100 real estate professionals who, using their extensive knowledge of the market, share lender and market data and utilize state-of-the-art proprietary technology to capitalize on deep relationships with more than 85 local and national lenders. Eastern Union’s real estate professionals bring clients the very best rates and terms the market has to offer, acting as trusted advisors who operate on the simple premise that client needs come first. Eastern Union’s arsenal of lending sources enables the company to arrange financing for complex, multi-state, multi-site portfolios, as well as loans for smaller, single-property transactions. The company consistently places an average of a quarter of a billion in new loans every month. Eastern Union, which operates nationwide, is headquartered in New York, with offices in New Jersey and Maryland. For more information, please visit: http://www.easternuc.com/.



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