18 W 75th Street – $14,600,000 – Acquisition & Construction Financing

Berko & Associates Finance and Capital Markets Team, in cooperation with Senior Associate Elliot Taub, have successfully procured financing for the acquisition and conversion of a gorgeous 10-unit multi-family townhome in the Upper West Side, steps from Central Park. The Sponsor intends to convert the property into a single family mansion of approximately 8,000 square feet with super high end finishes. The Team arranged and advised on the financing, which came from a Debt Investment Group based in Los Angeles, CA, for 82.5% LTV at a rate of 9% for 18 months with extensions.