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.
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| 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
Email: gregg@winterandcompany.com
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