David Kushner of Cresskill Guides Commercial Bridge Loan Transactions

David Kushner (Cresskill)

A Cresskill, New Jersey, entrepreneur, David Kushner heads the Paradigm Capital Group and facilitates commercial real estate bridge loans. Cresskill resident David Kushner has undertaken a number of significant developments, including the acquisition of a nearly 10-acre site for waterfront development in Newburgh, New York.

The $4.5 million first mortgage funded the acquisition of a development site spanning the Newburgh-Beacon Ferry Terminal and a marina that is zoned for 814,000 square feet of mixed use space. The first phase of the development will encompass retail, parking, and residential units.

Asked about the transaction, Mr. Kushner expressed excitement at the opportunity, and pointed out that the local market has been trending upward over the medium term. He believes that Orange County is well-positioned for further expansion.

Another high-profile transaction involved Paradigm Capital Group funding a $1 million first mortgage on a co-op on Manhattan’s Upper East Side, at One Carnegie Hill. The unit has undergone extensive renovations, with features including copper ceilings, recessed LED lighting, aluminum baseboards, and hardwood flooring.