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$11,000,000 | Queens, NY | Multifamily - 240 units | 19 stories
Rate: 5.39% | Term: 10 Years Fixed | Amortization: 30 Years | Closed: September 11, 2009
Our loan closing enabled this previously limited-equity Mitchel Lama co-op to complete its privatization and its conversion to a free-market cooperative. The conversion had been under discussion since the 1980's and Winter & Company was able to structure the financing to finally accomplish this long-term goal. As a result, many shareholders will now be able to sell their apartments for nearly 100 times more than would have been possible before the privatization and conversion.
Winter & Company provides advisory services and arranges financing for commercial real estate owners and developers nationwide. Its affiliate, W Financial Fund, LP (www.w-financial.com) is a direct private commercial bridge lender providing short-term, special situation financing.
Serving Developers, Owners & Investors since 1989 | 149 Madison Avenue | Seventh Floor | NYC 10016 | (212) 532-1122
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