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Urban Standard Capital Arranges Debt on Cobble Hill Deal

Urban Standard Capital (USC) arranged a $3.8-million loan for Conway Capital’s purchase of a four-story Brooklyn building that houses Court Street Bagels, a popular bagel store in Cobble Hill.

The 6,790-square-foot mixed-use building at 181 Court St. was built in 1900 and also includes six residential units.

Conway Capital, a Brooklyn Heights-based real estate investment and management firm based, acquired the building for $4.55 million and plans to upgrade the residential units.

USC’s Seth Weissman and Charles Brosens delivered the 12-month acquisition loan that closed simultaneously with the purchase. The loan included a six-month extension option and interest rate under 9%.

Mercury Capital’s Eric Gleitman represented Conway Capital.

“The deal closed remotely within 30 days of signing the term sheet,” said Brosens. “We had confidence in the sponsor from previous transactions and the acquisition reflected a discount to market values which was appropriate for the environment we are in today.”

For comments, questions or concerns, please contact Paul Bubny

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Financing
  • ◦Sale/Acquisition
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