Upper East Side, NYC
W has closed a $4,010,000 first mortgage bridge loan in three business days from the first phone call. The loan proceeds were needed to finance the acquisition of a development site in downtown Manhattan. Our loan is collateralized by an exquisite, free and clear, mixed-use townhouse located on the Upper East Side which is worth more than three times the amount of our loan. Sometimes the primary challenge we are presented with is a short time frame. This was one of those deals. Because our team is responsive and well-prepared, we were able to close very quickly, allowing our borrower to close on his acquisition the following day.