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.

Enabling Complex Bridge Loans to Go Forward

Based in Cresskill, New Jersey, David Kushner serves as Paradigm Capital Group president and is responsible for ensuring the quick, reliable closing of commercial real estate bridge loans. David Kushner and his Cresskill colleagues enable loans of between $1 and $10 million and have overseen a number of high-profile transactions across the United States.

Mr. Kushner’s achievements with Paradigm include arranging funding for a $2.3 million mortgage for a 6,800 square foot luxury property. Situated within Ventnor City, New Jersey’s historic St. Leonard’s Tract, the eight-block oceanside community was first mapped in the late 19th century. It is limited through deed restrictions to single family homes with large lot sizes and abundant open spaces.

As Mr. Kushner described it, Paradigm was successful in navigating the “many moving parts” of the transaction, which was secured through a mortgage on a single-family Hallandale Beach, Florida, luxury investment property. With the transaction appearing likely to fall through, a competitive loan was arranged and closed within a month.