$1,800,000 First Mortgage – Mixed-Use Property – Manhattan, NY

 

$1,800,000 First Mortgage – Mixed-Use Property – Manhattan, NY

In this deal, the borrower approached H&O Capital Funding looking for a cash-out refinance to take some equity out of the property. The borrower needed to buy some time to find a tenant for the vacant restaurant at the property. The borrower previously occupied the restaurant himself, but is moving towards retirement and wanted to leave the restaurant business altogether. The cash out allows the borrower to aggressively market the space for rent, while giving him the funds he needs to cover the costs of managing the property, including it’s nine rental apartments. Despite the borrower’s previous lender attempting to stall the deal, H&O Capital closed on the loan in under four weeks.

H&O Capital Funding  has helped countless real estate buyers, sellers, lessees and lessors achieve their goals. Our legacy is unwavering commitment to the communities we serve. Houlihan & O’Malley Commercial Real Estate Services specializes in four distinct, yet overlapping, areas of business: Commercial Brokerage services, Private Mortgage services, Appraisal Services and Advisory services.

For more information on loans that we offer, visit our website.

 

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