Partial/Non-Recourse Bridge And Construction Loans


An aggressive East Coast Bank has dropped pricing for construction and bridge loans across various asset classes.
Check size: $20-$150MM
LTV: Up to 70% for Multifamily and 65% for all others
Rate: Spreads ranging from high 1s to low 2s on transitional assets and high 2s to mid 2s for construction transactions Recourse: non-recourse for bridge loans and 20-25% recourse for construction loans with burn offs
Term: 3 to 7 years
Amortization: 30 years for multifamily and 25 years for all other asset classes
Interest Only: Up to four years
DSCR sizing: 1.15x
Structured Capital Friendly: Allow mezzanine debt up to 80% and preferred equity up to 90%
Asset Types: Multi-family, condo, office, retail, hotel, mixed use, industrial, self-storage, parking, some land
Geography: East of the Mississippi, Boston to Key Largo

Seth Shumer



D: (305) 995-0777 ext .306
C: (305) 360-9625 

Alexei Muniak


Mr. Muniak joined Eyzenberg & Company in 2022 to focus on debt and equity originations in his newly adopted home of South Florida.

Mr. Muniak is Co-Founder and Managing Partner at Makal Equities, a real estate investment firm specializing in multifamily, industrial and retail property in Southern California and New York. He invested, sourced, and underwrote all commercial development and investment opportunities during this time. Furthermore, Mr. Muniak’s previous position as Managing Director at a Family Office in New York allowed him to develop his skills as he increasingly became involved in all aspects of fundraising and deploying the fund’s investment mandate. In his career to date he has invested, sourced, and underwrote commercial development and investment contracts, exceeding 100 million dollars.

Furthermore, Mr. Muniak is a Board Member and shareholder of the Mangia Hospitality Group in New York, where he oversees all aspects of fundraising, including the Group’s investment mandates. As a strategic dealmaker, Mr. Muniak is responsible for retail acquisitions & new developments and acts as a liaison with City and State Government bureaus. Due to his established reputation as a key player in the real estate and hospitality industry, Mr. Muniak has managed to build a wide portfolio of bicoastal projects and has worked closely with top developers, entrepreneurs, and restaurateurs nationwide.

Originally from New York City, Mr. Muniak graduated from Johnson & Wales University in Rhode Island, and completed his graduate Business certificate in Sydney, Australia. He is a long-time martial artist and a philanthropist.


D: (305) 995-0777 ext. 309
C: (917) 536-1057