$6,750,000

Pre-Development Bridge Loan

NYC
Repeat Borrower

$6,750,000 pre-development bridge loan collateralized by various assets including three land parcels with over 42,000 SF of FAR in a prime West Chelsea location and the collateral assignment of a deposit to purchase an additional 19,650 SF of High Line Transferable Development Rights. Although the developer had a commitment letter for a construction loan from a major institutional lender, when a last-minute problem temporarily delayed the bank closing, W Financial closed a bridge loan in only 5 days.