Only two years after Winter & Company had arranged a new underlying mortgage for this well-located, Upper West Side, 7-story, 16-unit cooperative with ground-floor retail, we received an inquiry from the borrower seeking to avail themselves of recent historically low interest rates.

Fortunately, we had negotiated a very low, fixed prepayment penalty for the original loan (if the original loan had been structured with a typical yield-maintenance or defeasance prepayment penalty then this latest refinancing would not have been feasible). The new loan is structured with $2 million fixed at 4.8% on an interest-only basis for the entire 10-year term, along with a revolving credit facility of $500,000 floating at LIBOR plus 380 b/p available to the borrower for the entire loan term. Visit Winter & Company to see many other examples of loans that we have arranged. For fast-close bridge loans and value added scenarios call or visit our affiliate W Financial Fund, LP.