Situation:

Asset Based Lending recently funded a hard money loan for a fix and flip project in Brooklyn, New York. The investors are very experienced, specializing in building and renovating brownstones in Brooklyn and the Bronx. This property is a 2,268 sqft 2 family with 6 bedrooms and 3 bathrooms in Stuyvesant Heights, right off Broadway and in close proximity to transit for a quick commute to Manhattan. The project is a total gut renovation, and will undergo $375,000 worth of work to help it match the local market’s demand.