Riverside Park Capital

About Riverside Park Capital

Based in New York, NY, Riverside Park Capital is an asset-based lender offering funding in New York City. They offer private commercial loans and short term bridge loans. They issue rates ranging between 6.5% and 10.5%, terms between 6 months and 3 years, and loan amounts ranging from $2,000,000 to $250,000,000. They offer loans on many property types, including multi-family, apartment buildings, office units, retail units, and industrial facilities.

Loan Types Offered: Commercial Hard Money Loans, Bridge Loans

Property Types Covered: Multi Family, Apartment, Office, Retail, Industrial

Areas Served: New York City

Lending Guidelines for Riverside Park Capital

Below are the general loan guidelines published on the Riverside Park Capital website. Please confirm all terms and rates directly with the lender.

Loan Examples

The following loans are for education purposes only. They do not represent actual loans executed by Riverside Park Capital.

Loan Example 1

Riverside Park Capital issues a private money loan to Clare for the acquisition of a new office building after she is turned down for a commercial mortgage by her credit union because she has a low FICO score. Because the borrower and lender contract to a 70% loan to value (LTV), Clare will fund $84,000 at the close and the loan principle amount will be $196,000 since the cost of the new property is $280,000. The terms of the deal include a 12 month length, a 8% interest rate, and a 1 origination fee paid by Clare at closing. By the terms of the deal, Clare will have to pay an origination fee of $1,960 at the close (1% x $196,000 principle) and will then begin making payments of $1,307 monthly ($196,000 principle x 8% interest / 12 months in a year). she will also make a balloon payment of the $196,000 principle upon expiration of the loan, or sooner if she chooses.

Loan Example 2

Marcia takes a private money bridge loan from Riverside Park Capital in order to renovate a house to flip in Cos Cob, CT. The deal has the following terms:

$390,000 purchase price
60% loan-to-value (LTV)
18 month term
8% interest rate
2% origination fee

Assuming a $526,500 sales price at the end of the 18 month term, the final numbers for the project would look like the following:

$526,500 sales price
- $234,000 principle (60% LTV)
- $156,000 down payment (40% on 60% LTV)
- $4,680 origination fee (2% of the $234,000 principle)
- $28,080 total interest paid (18 months x 8% interest)
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= $103,740 total profit (doesn't include taxes or rehab costs)