$50,250,000

Bridge Loan

East Harlem, NYC
Repeat Borrower

W Financial has provided a $50,250,000 first mortgage bridge loan secured by a recently completed, 109-unit rental property located in East Harlem. The borrower required a bridge loan to repay a maturing construction loan allowing them to transition through the lease-up process. Once the property has been fully leased and stabilized, then the borrower plans to refinance the W Financial bridge loan by obtaining conventional, long-term bank financing.