We Lend Provides $5,000,000 Bridge Loan For Luxury Condo In Midtown Manhattan

A luxury condominium located in Midtown, Manhattan, was involved in a secured financial transaction. The asset is classified as a non-warrantable condominium. A loan amount of $5,000,000 was issued as part of a bridge loan to facilitate the completion of the deal.

Summary of transaction details:

• Property Type: Luxury Condominium
• Transaction Amount: $5,000,000
• Lender: We Lend
• Lender's Representatives: Jeff Safi & Ruben Izgelov - We Lend
• Loan Type: Bridge Loan
• Market: Midtown, Manhattan
• Borrower: A foreign national
• Earnest Money at Risk: $800,000
• Time to Close: 3 weeks

Jeff Safi and Ruben Izgelov from We Lend were instrumental in closing the transaction, assisting the borrower after they faced difficulties obtaining conventional financing. The process included recognizing the rental income potential of the condominium asset and structuring a bridge loan to finalize the deal efficiently. Following the closing, assistance was provided to the borrower in connecting with mortgage bankers from We Lend’s network for future refinancing opportunities.