We specialize in arranging co-op underlying mortgages, investment property financing for multifamily and mixed-use properties nationwide, financing for various types of commercial properties, as well as arranging mortgages for non-profit, 501 c3 organizations. For experienced developers, we arrange construction loans for the development of luxury condominiums and rental properties. We address all components of the capital stack, including equity participations and arranging joint ventures. We are based in New York and bring decades of experience, as well as a deep network of contacts to each new assignment.
Co-op Underlying Mortgages
Co-op underlying mortgages have always been a specialty of our firm, and we interact with co-op boards and their finance committee members on a regular basis in order to provide advice and to help them optimally select and structure their new underlying mortgage. Very often, in addition to the underlying mortgage, we also often arrange an unsecured, revolving credit line to meet a co-op’s future borrowing needs.
Our approach is to engage in consultation and advice first, helping a co-op board to evaluate whether or not makes economic sense to consider refinancing, and if so, to help the co-op board navigate towards the best possible option in order to meet their current and future needs.
Winter & Company has arranged hundreds of co-op underlying mortgages since the company was founded in 1989, and therefore we bring a great deal of market knowledge, skill and experience to each assignment. Contact Gregg Winter at (212) 532-1122 or firstname.lastname@example.org to discuss your building’s scenario and goals.
For a checklist of items to refinance a co-op click here.
To see recent underlying mortgage transactions click here.
New Development / Construction
Winter & Company is a specialist in several areas, one of which is in providing advice to developers and arranging optimal construction financing for new, ground-up development of high-end, luxury condominiums in NYC, mainly in downtown Manhattan (with quite a few of these located in TriBeCa), and also in Brooklyn. We also handle conversions – most commonly the gut-renovation and conversion of loft, office or other type of commercial buildings to luxury residential, for-sale product.
Our clients are successful developers who rely on our firm to arrange the most advantageous terms for their construction loan. We also often help to create together joint ventures and to source equity as well as debt for qualifying projects.
Construction loans can be arranged at a loan-to-cost ranging from 60% – 70% depending upon the usual factors, such as the quality of the location, the developer’s track record, the acquisition cost and the quality of the sponsorship.
Personal guarantees are usually required for smaller scale projects, while larger deals can often be structured with limited recourse, and in some cases on a non-recourse basis.
Non-Profits and Arts Organizations
Winter & Company has provided advisory services and arranged mortgage financing for various 501c3 non-profit organizations throughout the Tri-State area. Examples include the Sag Harbor Cinema Arts Center, a three-screen, state-of-the-art film, cultural and educational center located on Main Street in Sag Harbor on the East End of Long Island. Gregg Winter is also a founding member of the Cinema’s board of directors.
Westbeth Artists Housing, which is the world’s largest artists’ community. A home to the arts, it offers affordable living and working space for artists and arts organizations. The nearly 550,000 square foot complex was originally the headquarters of Bell Telephone Laboratories before being converted to its present use in 1968. The conversion, partially funded by the National Endowment for the Arts, was the first major project overseen by architect Richard Meier. Westbeth occupies a full city block in Greenwich Village, Manhattan.
The Children’s Museum of the East End, an organization that seeks to teach children about the East End and the world around them by promoting learning through play, with hand’s-on exhibits and educational programs, is located in Bridgehampton, Long Island.