Phone: 212-239-5242 ex 101
Address: 18 West 33rd Street 2nd Floor, New York, NY 10001
States They Lend In: New York, New Jersey, Connecticut, Washington DC, Virginia, Pennsylvania, and Florida
Sky Equity is a hard money lending and real estate investment company. Sky Equity lends and invests in Connecticut, the New York Metropolitan Area, New Jersey, Pennsylvania, Washington DC, Virginia and Florida, but will consider opportunities anywhere in the country.
Sky Equity offers short-term real estate based loans to individuals and business entities unable to secure traditional financing.
We primarily fund, but are not limited to: Multi-Family/Apartment Buildings, Mixed Use Properties, Non-Owner Occupied Residential Purchases, Investor Rehab Projects, Construction and much more. Click here to view our loan criteria.
At Sky Equity, we understand the time restraints faced by most borrowers. Therefore, we move quickly though the loan application process, with all underwriting being performed in house. This allows us to get you the approval and funds you need when you need them.
Sky Equity also provides investment opportunities for those looking to participate in the real estate market without the usual encumbrances associated with property ownership.
Our mission at Sky Equity is to provide all Borrowers the fairest loan terms possible and all our Investors the best possible return on their investment dollars.
Sky Equity, LLC provides senior debt on cash-flowing properties, or properties that will or can readily become cash-flowing. Although we target loans between $100,000 and $2 million, we will consider larger loan applications. While the majority of the commercial bridge loans we originate and service are in the New York Metropolitan Area, we will entertain opportunities in other primary markets nationwide as long as our loan criteria is met
We provide first mortgage bridge loan financing for the following property types:
- Multi-Family / Apartment Buildings
- Mixed Use Properties
- Non-Owner Occupied Residential Purchases
- Investor Rehab (Fix and Flip) Projects
- Commercial, Retail Co-Ops, Condominiums
- Office Buildings
- Warehouse / Industrial
- Retail / Shopping Centers
- Special Need Circumstance
A Borrower must have a viable business plan and exit strategy, along with relevant experience, networth and liquidity.
Terms and Rates
Rates typically fall within the range between 11% and 13% depending upon the usual factors such as: Quality and experience of sponsorship, location, cash flow (or the lack thereof), the nature of the borrower’s business plan and the amount of time necessary to execute same. Our loans are typically structured with a fixed rate.
While the most typical loan term is one year, we will consider loans with terms ranging from six months to two years.
For first mortgages, Sky Equity, LLC will typically lend up to 75% loan to value – to be determined on a case-by-case basis. Mezzanine and second mortgage loans will only be considered on cash-flowing properties for strong sponsors with real expertise, net worth, liquidity and meaningful guarantees.
Our loans typically have no prepayment penalty after a short lockout period.
The loan origination fee will typically range from 1% to 3% of the total loan amount with 2% being the most typical.
Most loans are structured with full recourse.
Most loans are introduced to Sky Equity, LLC by our valuable network of mortgage brokers. We always welcome the opportunity to expand our network of commercial mortgage brokers, so call or email us with your bridge loan opportunities.
Depending upon the nature of the loan request and the financial strength of the Sponsor, we may structure the loan with a Payment Reserve to cover part of the monthly payments
Leave a Reply