News

New York City, NY., November 17, 2020 – HardMoneyMobile.com, a leading provider of asset-backed loan solutions, closed a loan on a nail salon in Jersey City, NJ.

The contracted purchase price was quoted at $820,000, but Hard Money Mobile appraised the purchase at $780,000 – giving a $40,000 advantage to the borrower.

Hard Money Mobile, LLC is giving a construction loan to good-hearted long-time area coach Thurston Jackie “T.J.” Robinson and his wife Charlotte Robinson – two hard-working people with a can-do attitude and a career track record of business and professional successes who are now giving back to the community.

They are taking on a massive project to give at-risk teens a place to play basketball and reach the heights of the NCAA and beyond. The efforts to build the T.J. Robinson Life Center is spearheaded by Charlotte, who envisions a center that would attract out-of-town basketball, soccer, and volleyball tournaments, boosting the local economy.

Hard Money Mobile is committed to helping the community in valued projects that help lay the road for a better future.

A broker’s fee of $30,000 was paid at closing.

HardMoneyMobile.com, a leading provider of asset-backed loan solutions, announced that Elliot Auerbacher has been named Chief Executive Officer. Auerbacher has more than 20 years of experience financing commercial real estate, including his role as VP of Originations at Northmarq.com and Greystone.com. “I am very excited to be joining the HMM team,” said Auerbacher. “I believe HMM has a great business model and a talented management team that is uniquely positioned to capitalize on the changing environment.” Hard Money Mobile is a private commercial real estate lending company specializing in short term asset-based loans. It recognizes that each loan presents unique circumstances and therefore we place emphasis on innovation and efficiency, working closely with our clients to ensure project funding. A leader in the realm of direct lending, its closing times typically within two weeks, and a funding commitment issued within 48 hours. Founded over 20 years ago with the goal of mutually beneficial business closings, HMM has closed hundreds of loans and accumulated a base of thousands of customers. Visit them at www.HardMoneyMobile.com

The subject property is improved with a retail/residential building containing ±13,060 gross square feet and 12,660 rentable square feet. The building is presently occupied by the owner, doing business as Rocco’s Tuscany Grill, and four other tenants, including a luxury apartment. A broker’s fee of $18,500 was paid at closing.

The subject property is described as The Pond Bay Club, a 15-acre site with 650 feet of direct beachfront on the secluded Chocolate Hole Bay on the Caribbean Sea, currently hosting 26 built villas. It is located in one of the most desired locations on the US Virgin Islands, just a short 5-minute drive to downtown Cruz Bay and Ferry Dock. To keep the loan to value low, we are taking additional collateral, namely a property called The Lumberyard, a space currently used as a parking lot located just above Cruz Bay, which is the primary access to St. John. A broker’s fee of $130,000 was paid at closing.

The property is a four-story mixed-use commercial stand-alone office building with scenic mountain top view of the town below and of NY City. It is located near major highways: 46, 80, 19 and 23. The loan will be used to add two floors to the existing building for a catering/banquet hall business. A broker’s fee of $50,000 was paid at closing.

Century Capital Partners closed a deal with GA Views Management, LLC for a loan of $2,125,000. The property is located in one of the most desired areas of Washington, D.C. The borrower intends to build a rental apartment complex and the completed project is valued at more than $10 million. A broker’s fee of $42,500 was paid at closing.

Century Capital Partners closed a deal with Raj Consultants for a loan of $1,080,000. The collateral is a property in an upscale neighbourhood in Bayside, Queens, NY. A broker’s fee of $21,600 was paid at closing.

Century Capital Partners closed a $3-million loan to Salina Enterprise to fund the Chimes Building at 500 S. Salina Street. The property is one of Syracuse’s most prominent buildings and its rennovation contributes to downtown Syracuse’s revival. Currently, Syracuse is experiencing an economic boom due to the medical industry as well as the educational sector.

Century Capital closed a $965,000 deal in Midland Park, NJ. The borrower is an experienced investor who has been buying properties in NJ with an existing portfolio of 20 properties. A current PFS shows a net worth of $7.7M in assets with businesses valued at $6.9M. The collaterals include a $1 million property located right in the business center of Midland Park, which used to be a gas station.