Upper East Side Condominium Construction Completion and Inventory Loan
New York, NY
- Loan Type: Recapitalization
- Property: 10-unit luxury residential condominium building with ground-floor retail.
- Scenario: Proceeds from Trevian's loan were used to pay off the previous lender, complete construction, fund an interest reserve and partially pay down a preferred equity position after an expected injection of fresh equity did not take place.
- Result: Trevian lends to sponsors who are in need of recapitalization financing in order to re-establish reserves, complete construction, and/or buy out or pay down investors. Trevian can close a construction completion loan in as quickly as two to three weeks.