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| Rendering for Planned Condominium Project in TriBeCa Neighborhood, New York City |
NEW YORK, NY -- Winter
& Company has arranged a $38,373,183 construction loan (more than $5
million loan-per-residential-unit) for the development of an ultra-high-end
luxury boutique condominium project located in TriBeCa.
The three-year
construction loan is priced at LIBOR + 350 basis points with a floor of 3.7%
and was structured with limited recourse.
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| Gregg Winter |
Much of the existing
building will be demolished and the resulting structure will be a nine-story
building with seven large, luxurious units with copious terraces and outdoor
space, in-building parking and units ranging in size from 3,393 to 7,098 square
feet.
Winter & Company had
also arranged the sale of this property from a previous developer to the
current developer.
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 and
for more information on construction
financing programs and arranging joint venture equity, please contact:
Gregg Winter - President
Winter & Company
Creative Minds |
Unparalleled Service ®
149 Madison Avenue,
Seventh floor
New York, NY 10016
Phone: 212 532-9170
Email: gregg@winterandcompany.com
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