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Recent Apartment Buildings/Multifamily/Mixed-Use Property Transactions


PRESS RELEASE

CONTACT: Gregg Winter, President
gregg@winter1.com
212-532-1122 ext. 1
Henry Berliss, Exec. VP
henry@winter1.com
212-532-1122 ext. 7

WINTER & COMPANY closes 2 loans totaling $4,750,000 secured by 2 prime Manhattan properties: $3,750,000 Cash Out Refi on a 19,000 SF full floor Office Condominium and an Acquisition/Bridge loan on an Upper East Side Townhouse.

For Immediate Release: New York: Winter & Company recently closed two mortgages totaling $4,750,000 secured by two prime Manhattan properties.

A Cash Out Mortgage of $3,750,000 was arranged for the headquarters of a multi-national company. The borrower, a NYSE traded company is also the principal occupant of the 19,000 square foot full floor condominium unit. The lender offered the choice of a fixed or floating rate. The borrower chose the "floater" which offered more flexibility to prepay the loan. The mortgage carries a 20 year payment schedule with an initial term of 5 years.

A $1,000,000 Acquisition/Bridge loan was secured by a 5-story mixed use townhouse on Manhattan's Upper East Side. The owners required a bridge loan to allow them time to make certain improvements to the property and to decide if they want to convert the building to a single-family house for their use once the current leases expire. The nature and location of the property as well as the strong financial profile of the borrower aided Winter & Company in obtaining an extremely attractive fixed rate for the entire 5 year term and a 30 year payment schedule.

Winter & Company specializes in providing advisory services as well as both institutional and private mortgages to commercial real estate owners and professionals nationwide. Its affiliate, W Financial is a direct private bridge and mezzanine lender providing short-term, special situation financing to developers, owners and investors. If you are an accredited investor and would like to learn more about investing in the Fund, visit PrivateMortgageInvestment.com

 

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