W Financial provides $8.25 Million second mortgage for retail property in New York City’s Meatpacking District

NEW YORK, NY -- W Financial has provided an $8,250,000 second mortgage bridge loan for a three-story, 15,000 square foot retail property on West 14th Street in NYC's Meatpacking District, located near the High Line and at the nexus of what has become a highly sought-after location for luxury retailers.

 The property is a commercial condominium unit. W's loan is junior to a seller-provided, purchase money mortgage and was utilized to fund a tenant buyout so that a new lease can be signed with a new tenant at a much higher rent. Our borrowers will either refinance with a bank, or sell the property.

On select transactions W Financial is pricing its bridge loans as low as 8%, with terms as long as five years depending on the usual factors such as location, loan-to-value ratio, cash flow and quality of the sponsorship.

David Heiden

Click here to see recent bridge loans closed by W, and read our home page to get a better sense of which of your prospective loan scenarios might be in our "strike zone".

W will also consider providing construction loans in Manhattan or Brooklyn for experienced developers, as well as mezzanine loans, preferred equity and joint venture equity on well-located, cash-flowing properties.

Call me to discuss or contact my partner David Heiden | david@w-financial.com (212) 684-8484, or contact our Senior Loan Officer Jarret Schochet | jarret@w-financial.com (212) 684-2205 to discuss your new bridge loan scenarios.

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

Gregg Winter - Founder & Managing Partner

W Financial Fund, LP

Special Situation Financing for Commercial Real Estate ®

149 Madison Avenue, Seventh floor

New York, NY 10016

Phone: 212 532-1122 x1

Email: gregg@w-financial.com

http://www.w-financial.com

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