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| Planned Five-Unit Condominium Building, East 64th Street, Upper East Side, Manhattan, NY |
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| David Heiden |
NEW YORK, NY -- W Financial has provided a $10,000,000 bridge
loan collateralized by a multi-family building located on East 64th Street on
Manhattan's Upper East Side.
The developer, a repeat
borrower, utilized W Financial in order to be able to acquire the property in less
time than would have been possible if he had financed the project with a
conventional lender.
The finished product will
be a new, high-end, five-unit condominium building. It is expected that W's
loan will be repaid with a traditional construction loan. W's borrower is an
experienced developer who has an expertise in creating significant value with
this type of property.
W will also consider
providing re-hab and construction loans for experienced developers, as well as
mezzanine financing on well-located, cash-flowing properties.
Call me, or contact our
Senior Loan Officer, Jarret Schochet
| jarret@w-financial.com
at (212) 684-2205, or contact my partner David Heiden | david@w-financial.com
(212) 684-8484 to discuss your new 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
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