Asset-based lender Century Capital closes on a $4,700,000 Loan on a 26 room hotel in the heart of Brooklyn’s Historic Chinatown.
1108 60th Street is the hottest new location in Brooklyn, with a multi-million dollar hotel project underway. Thanks to Century Capital’s $4.7 million loan, developer Mr. Bao Zhi Liu’s New Hotel will enhance both the Jewish area of Boro Park and Brooklyn’s historic Chinatown. Sandwiched between both communities, the New Hotel will bring more life to the Hong Kong Supermarkets, Asian nail shops, religious and cultural centers, and other Chinese- and Jewish-owned enterprises dotting the streets of eclectic Brooklyn.
Brooklyn’s Chinatown which runs along 8th Avenue between 42nd and 68th Streets, is preparing to see a 26-room hotel appear in the middle of all the action. The finished hotel will be within close walking distance to the nearest NYC subway stops along the D and N lines as well as Maimonides Medical Center.
There are currently no other hotels in the vicinity of 60th Street and the New Hotel plans to accommodate many tourists, friends, and family visiting the borough. With more than 34,000 residents and counting, Brooklyn’s main Chinatown has surpassed Manhattan’s Chinatown and paves the path for other satellite Chinatowns which have been popping up over the years throughout Brooklyn, Queens, and beyond.
Mr. Bao Zhi Liu intends to construct a state-of-the-art spa inside the hotel for guests and visitors. He has 18 years of real estate development under his belt including extensive experience with renovation, construction, and management of both residential and commercial properties. He has an impeccable professional reputation and Century Capital is pleased to be doing business with him and his colleagues.
Century Capital is a New Jersey asset-based lender specializing in unique and creative lending solutions. Construction and hard money loans range from $500,000 - $15,000,000 and Century Capital always protects brokers’ rights. Contact us if you would like to inquire about a lending or investing opportunity.