JUST CLOSED IN NEW YORK CITY, NEW YORK!
Gelt Financial is proud to announce we just closed a $500K second mortgage on a 40+ unit apartment building in New York City, NY. The borrower was a very experienced developer/investor who needed working capital. The private mortgage was non-recorded with limited docs required. This multifamily, investment property was recently completed and is currently in the lease-up phase. It is in the process of becoming stabilized so we were comfortable with the collateral. No appraisal was required.
When your bank says NO, we say YES!
About Gelt Financial
Gelt Financial is a non-bank commercial real estate lender. We have closed more than 10,000 loans totaling over $1 billion since 1989. Gelt focuses on providing debt to non-bank borrowers on all types of commercial real estate, including but not limited to multifamily, office, retail, warehouse, industrial, self-storage, and mixed-use. We offer a wide array of mortgage products including bridge loans, no income verification programs, foreclosure buy-out programs, DIP, JV Equity, and subordinate debt.
Deal directly with the decision-makers. For more info on how Gelt can help you with an investment property or on any of our other various products and services, take a look at what President Jack Miller does on Gelt’s YouTube channel and for more info on our completed deals, check our Deals Done.