Mortgage lead for Commercial loan in Jamestown, NY, 14701

Loan Request for Commercial loan in Jamestown, NY, 14701

Request #3734476 by Lender

Date Posted

5/15/2025 7:26:56 PM

Property at

Jamestown, NY, 14701, USA Show Map

Borrower at

Property Type

Commercial

Property Value

$1,800,000

Loan Request

$700,000

LTV

38.89 %

Credit Rating

600-619

Net Worth

$150,000 - $250,000

Loan Purpose

Property Purchase

Purpose

• Multi-use property comprised of storefront retail spaces, 10 apartments (currently + can add about 12 more with existing space).
• There is also a large event venue for which I already have a rental agreement at an additional $5K/mo.
• I can send the appraisal, expenses, and rent roll.
• I can probably get the property taxes abated for 4 years as they have a program for new businesses.
• A building of half the size just sold last year for 2mil. They got a million in redevelopment loans, and we will be able to take advantage of those programs as well, but they take considerable time.
• The listing online it only specified about 25,000 sqft when in fact it is 60,000 because when the seller's realtor pulled the tax record in, it didn't pull in all of the parcels.
• I have a huge amount of interest from the city and a local Foundation from which we will receive significant grants for upgrades and additional apartments, offices, etc. starting about a year down the road.
• A matching grant of $25K per apartment will be available from the get go.

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Loan Request for Commercial loan in Jamestown, NY, 14701