Harlem Condominium Construction Completion and Inventory Loan
New York, NY
- Loan Type:
- Property: 46-unit luxury residential condominium property with a ground-floor community facility
- Scenario: Proceeds from Trevian's loan were used to pay off the previous lender, fund an interest reserve, complete construction, and provide a runway to market and sell the units.
- Result: Trevian lends to sponsor's who are in need of recapitalization financing in order to re-establish reserves, payoff outstanding liens, and complete construction. Trevian allowed a portion of proceeds from initial sales to be used to refill various reserves.