iBorrow, a nationwide private direct lender for commercial real estate, has provided a $16.7 million loan secured by a five-story mixed-use commercial building parcel in urban Tribeca, New York, NY.
Brian Good, iBorrow CEO, said, “The property sits in the heart of Tribeca’s retail and office market. We firmly believe the property will be successful due to the trends we are currently seeing in a market that has experienced phenomenal rent growth – one of the best performances in the metro area. We are happy to work with an experienced sponsor and believe strongly in the borrower’s business plan. We look forward to working on similar projects using our flexible loan program.”