Wednesday, August 6, 2014

Winter & Co.'s Doug Chitel Arranges $14.2 Million in Financing for New York City Properties




NEW YORK, NY -- Doug Chitel has arranged $14,200,000 in financing for a portfolio of investment properties including multifamily and mixed-use buildings and two cash-flowing condominium units located on the Upper West Side and in the SoHo neighborhood of Manhattan, NY.

 Doug was able to arrange the buildings' financing at a rate of 3.5%, fixed for 6 years. 

Doug Chitel
The balance sheet loan has a lenient, step-down prepayment penalty structure, giving the borrower maximum flexibility in future years and also generated enough surplus loan proceeds to net the borrower more than $4,500,000 in cash.

This was Doug's second successful transaction in three years with his satisfied client. Doug can be reached at (212) 532-1122 x135 or doug@winterandcompany.com

Winter & Company is a Manhattan-based, commercial mortgage advisory firm that specializes in arranging development and construction financing, multifamily and mixed-use property financing and arranging cooperative underlying mortgages since 1989.

Its affiliate, W Financial Fund, LP is a direct private bridge lender providing short-term, special situation financing primarily for NYC multifamily and mixed-use properties celebrating its 10th year of successful operations.

For a complete copy of the company’s news release, please contact:

Gregg Winter - President
Winter & Company
Creative Minds | Unparalleled Service ®
149 Madison Avenue, Seventh floor
New York, NY 10016
Phone: 212 532-1122 x1

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