For Immediate Release: New York: There are buyers and there are sellers, and once in a great while we find ourselves representing both. This was recently the case on the Upper West Side of Manhattan where we were helping to obtain a mortgage for the seller of a beautiful limestone townhouse on West 105th Street to purchase his new brownstone on West 95th Street while simultaneously aiding the buyer of the limestone on 105th Street to arrange acquisition financing.

This worked out beautifully for both parties: Winter & Company Commercial was able to negotiate an assumption of the existing mortgage with the lender on the West 105th Street limestone, thus minimizing due diligence, time delays, closing costs and paperwork for the incoming buyer.

The seller of the limestone was able to avoid a $50,000 (5%) pre-payment penalty (typical for a commercial mortgage) that he would have otherwise faced because the mortgage he was leaving behind was being assumed, rather than being prepaid.

The West 95th Street property is a 6-unit, 5-story brownstone. The purchase price was $1,552,000 and the mortgage amount was $700,000.

The West 105th Street property is a 9-unit, 5-story limestone. The purchase price was $2,400,000 and the mortgage amount was $1,000,000. The new owner is trying to financially motivate the remaining tenants to leave in order to be able to convert the property to a one-family home.

As frequently happens in these townhouse or loft transactions, the presence of rent-regulated tenants constrains the rent roll and adversely affects the appraised value of a property, leading to the now-familiar gap.

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