Case Study: $9MM Retail Co-Op Unit | Recapitalization | New York, NY
Structured and arranged long-term, fixed-rate senior debt to recapitalize a single-tenant, 7,000-square-foot retail co-op in Manhattan’s Soho neighborhood.
Co-op financing is especially difficult given the ownership structure of the real estate and the limited number of lenders for these types of transactions.
Identified a new entrant to the New York market looking to establish a name for itself. The lender was able to get comfortable with the location and with the financials of both the co-op and the borrower.