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| Rendering of planned 31 townhome-style condominium units, Clinton Hill Neighborhood, Brooklyn, NY |
NEW YORK, NY -- Winter
& Company has arranged a $13,253,000 construction loan for an active
developer for the ground-up development of 31 townhome-style condominium units
in the Clinton Hill neighborhood of Brooklyn, close to the Barclay Center.
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| Gregg Winter |
The 36-month construction loan represents 70% loan-to-cost
and 74% loan-to-stabilized value (based upon the finished property’s
hypothetical value as a rental).
The development is very efficiently designed maximizing
sellable square footage and minimizing common areas and is located close to
major subways.
The design of the units was also intended to integrate with the
scale of style of the townhouses in the neighborhood.
Winter & Company is a Manhattan-based, commercial
mortgage advisory firm that specializes in arranging development and
construction financing (as well as joint venture equity for new developments),
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 since 2003.
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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