HUNTINGTON, NEW YORK, January 3, 2022 – Source Realty Capital, a New
York-based private real estate lender and commercial loan broker, has
originated a $382,000 bridge loan to purchase and renovate a residential
property in Huntington Village. Through its network of brokers, real estate
agents and experienced borrowers, Source Realty Capital originates short-
term real estate bridge loans for real estate professionals looking to purchase
and or renovate investment properties. Source Realty Capital also provides
long-term financing options for investment rental properties.
The 1-year, fixed rate bridge loan was used to purchase the Huntington
Village property, as well as provide the borrower with the money necessary to
complete the renovations of the house. This property is located off New York
Avenue and is walking distance to the heart of Huntington Village. The
property was purchased for $320,000 from the estate of its previous owners.
It’s need of a full cosmetic renovation, including a new roof, siding, drywall,
kitchen, and baths, as well as refinishing the floors, painting and landscaping.
The total cost of the renovation will be just about $100,000. The company
that purchased this property is an experience real estate investor located in
Queens, NY. They’re an active investor of distressed properties in Long Island.
“We’re excited for our borrower’s purchase of this property in Huntington
Village, and as a current resident of Huntington, I’m, always happy to see
distressed properties being renovated”, commented John Femenia, founder
and principal of Source Realty Capital. “This is the fourth deal we’re done for
this borrower in the last 12 months. They’re a pleasure to work with, and we
know they’ll do a beautiful job renovating this property” further commented
John Femenia.
ABOUT SOURCE REALTY CAPITAL
Source Realty Capital was founded by John Femenia in 2019 to capitalize on
the need for private capital in the real estate industry. By focusing exclusively
on 1-4 family and small balance multi-family properties, Source Realty Capital
has been able to carve out a niche for itself and effectively deliver capital to
experience real estate investors. Source Realty Capital has originated over
$200 million of private money real estate loans.
Source Realty Capital’s founder, John Femenia, has over 15 years of finance
experience. Prior to forming Source Realty Capital, John was focused on
raising capital for the shipping and maritime industries, where he raised over
$2 billion of equity and debt capital. At Source Realty Capital, John is focused
on using his finance experience to assist real estate investors in raising capital
for their deals. John has an undergraduate degree in engineering from the
United States Merchant Marine Academy, and MBA in finance Columbia
Business School.
For more information about Source Realty Capital, please visit
www.sourcerealtycapital.com.
Additional links
https://www.totalprestigemagazine.com/john-femenia-founder-and-ceo-of-
source-realty-capital/
https://www.linkedin.com/in/johnfemenia/
https://mobile.twitter.com/john_femenia
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