$8,500,000

Bridge Loan

Long Island, New York

W Financial has provided an $8,500,000 first mortgage bridge loan secured by a package of nineteen condominium units within a 53-unit property located in Great Neck, Long Island, New York. The borrower needed the bridge loan to buy out a partner and plans to repay the W loan upon sales of individual condominium units or by refinancing the inventory loan with conventional bank financing. All nineteen of the apartments securing our loan are currently occupied and rented.