W Financial has provided a $7,750,000 first mortgage bridge loan secured by an attractive mixed-use property located on Seventh Avenue South in Greenwich Village, NY. The three contiguous buildings total 15,522 square feet and are fully leased with income from long-term tenants, which include two popular restaurants and 14 apartments. Although the borrower has owned this property free-and-clear for many years, when a new, compelling investment opportunity presented itself to the borrower, he decided to obtain a bridge loan on this prime property in order to free up immediate cash. Later, he will then be able to take the necessary time to refinance W's bridge loan in due course with a conventional lender. The borrower selected W for this time-sensitive loan request based on its reputation for reliability and rapid execution.

Note that W will also consider construction loans in Manhattan or Brooklyn for experienced developers, as well as mezzanine loans on well-located, cash-flowing properties.

On select transactions W Financial is pricing its bridge loans as low as 8%, with terms as long as five years depending on the usual factors such as location, loan-to-value ratio, cash flow and quality of the sponsorship. Click here to see recent bridge loans closed by W, and read our home page to get a better sense of which of your prospective loan scenarios might be in our "strike zone".

Call me to discuss or contact my partner David Heiden | david@w-financial.com (212) 684-8484, or contact our Senior Loan Officer Jarret Schochet | jarret@w-financial.com (212) 684-2205 to discuss your new bridge loan scenarios.

W Financial - Smart, Fast and Flexible financing for commercial and investment real estate since 2003!

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