$21,500,000
Condo Inventory
New York, NY
Lancewood Capital provided a $21,500,000 bridge loan to finance nine newly constructed condominium units. The sponsor successfully sold more than half of the project and was looking for a lower-leverage condo inventory loan at an attractive near-bank rate as they marketed the units for sale. Lancewood was able to provide the sponsor with a near-bank rate and closed the loan investment in under 2-weeks.
