Bridge Loans
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$8,750,000 Bridge Loan, Meatpacking District, NYC
The Asset: Ground-floor retail condominium in Manhattan's Meatpacking District. The Opportunity: Owner can buy out purchase money mortgage at a significant discount if closed by year end. The Challenge: Timing - the deal must close in 3 days (in this case, by New Year's Eve). The solution: W Financial closed this deal before the Champagne started flowing.
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$2,700,000 First Mortgage Bridge Loan, Brooklyn
• Bridge loan on 3 multifamily properties in Greenpoint, Brooklyn. • The buildings have just been renocated and optimized for sale to an investor. • Our loan will refinance existing debt and provide liquidity for the completion of this and another project.
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$17,400,000 First Mortgage Bridge Loan, Brooklyn
Condominium inventory loan: • Blanket loan on 38 units in 100% complete 64-unit luxury condominium building. • 26 units already sold and occupied. • Our loan will pay off the construction loan and allow the developer to rent the remaining units, and then transition to conventional financing.
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$10,250,000 Pre-Development Bridge Loan, East Side, NYC
Development site acquisition: • Assemblage of various parcels including IAR (inclusionary air rights). • Our First Mortgage Bridge Loan will help the developer meet the 421A deadline. • 18-story mixed-use ground-up development. • To-be-built ~60,000SF mixed-use condominium.
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$5,750,000 First Mortgage Bridge Loan, West Chelsea, NYC
W Financial has provided a $5,750,000 loan to enable the purchase of a defaulted first mortgage from a major investment bank on a prime commercial property in West Chelsea, NYC. The borrowers are seasoned real estate investors.
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$3,900,000 First Mortgage Bridge Loan, Palmetto Bay, Florida
W Financial rescued a Borrower's 1031 tax-free exchange with this rapid-close bridge loan. This leasehold mortgage loan on a brand-new triple net-leased Walgreens in Palmetto Bay, Florida went from first phone call to closing within 10 days.
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$5,000,000 First Mortgage Bridge Loan, Upper West Side, NYC
First Mortgage Bridge Loan for a 5-story, 9-unit building off Riverside Drive on Manhattan's Upper West Side. The loan will be repaid upon the subsequent closing of a construction loan. The property will be developed into a 16-story luxury condominium building.
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$10,000,000 Bridge Loan for a portfolio of properties including land, a gallery building and Highline Transferable Development Rights on West 21st and West 24th Streets in West Chelsea, NYC
W Financial has closed a $10,000,000 bridge loan collateralized by various assets which include a first mortgage on a West Chelsea Gallery building on West 21st and West 24th Streets.
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Portfolio Of Properties - New York City And Upstate New York
$11,500,000 Bridge Loan | Term: 1 year
A blanket mortgage covering three adjacent Greenwich Village investment properties, two Chelsea penthouse apartments, a 14,000 sq. ft. Chelsea commercial building, and an estate on 200+ acres of land on the Hudson River in Upstate New York.
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$2,650,000 First Mortgage pre-development Bridge Loan for a motel
to condominium conversion in Hampton Bays, Long Island
W Financial successfully funded a $2,650,000 first mortgage pre-development bridge loan for the conversion of a 64 unit motel to 30 luxury condominium units.
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$2,000,000 First Mortgage Bridge Loan for 2 contiguous development sites in the East Village, NY
A $2,000,000 first mortgage bridge loan was successfully closed by W Financial, for two development sites in the East Village, with a Long Island waterfront home serving as collateral, among others.
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Grand Street, NYC / Office Building with Retail
$2,100,000 Acquisition Bridge Loan | Term: 12 months
W Financial recently closed a $2,100,000 bridge loan in only 10 days from the initial offer for the acquisition of a mixed-use (office and retail) property on Manhattan's Lower East Side. [Read More] |
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$1,000,000 participation in a Second Mortgage Bridge Loan for five contiguous development sites in downtown Brooklyn, NY
W Financial closed a $1,000,000 participation in a Second Mortgage Bridge Loan for 5 sites several blocks from the Manhattan bridge for a highly respected developer. [Read More] |
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Williamsburg, Brooklyn - Bridge Loan for Condo Development Site
$500,000 First Mortgage Loan | Term: 1 year
This is a $500,000 first mortgage/bridge loan on a fully entitled building parcel in Williamsburg, Brooklyn. Approved building plans are now in place for a 9-story condominium building which will have excellent city views, artist studios and parking. [Read More] |
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