For Immediate Release: New York: Winter & Company Commercial has placed a new $1,250,000 underlying mortgage on a prime 66-unit cooperative located on Riverside Drive near 125th Street on Manhattan's Upper West Side. The terms include an interest rate of 6.68%, fixed for 15 years, amortizing on a 30-year schedule. The loan was structured to allow the board to lock in a low rate at will in the midst of a volatile interest rate environment.

Winter & Company also arranged for additional financing in the form of a $250,000 unsecured line of credit with a current available interest rate of approximately 4.5%, which will provide an inexpensive source of funds in the event that the co-op encounters unforeseen capital expenditures in the future. There will be substantial interest rate savings on the new mortgage that will enable the co-op to build up its reserve fund. Nevertheless the board felt it was wise to have a source of low-cost financing available for future contingencies.

Henry Berliss and Gregg Winter handled this loan, which closed on October 24th .

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