Kinder of CK Realty Partners arranges four N.Y.C. loans totaling $9.955 million
September 23, 2013 - Brokerage
According to Christopher Kinder, president and founder CK Realty Partners, LLC, the firm has arranged and closed four commercial real estate financings totaling $9.955 million. The firm launched in late 2012 with the goal of providing small to medium sized investors with a cost-effective way to reach across all lenders in the capital markets. "With over 100 lender and equity relationships, and the ability to directly lend on-book, we try to give our clients numerous tools to feel comfortable they are seeing everything the market has to offer. And at the end of the day it's all about execution," said Kinder. The deals include:
* A $3.5 million permanent loan arranged for an 8,000 s/f mixed-use building on 323 Greenwich St. in TriBeCa. The property contains four renovated loft apartments and a ground floor restaurant. The loan carries a fixed 4% rate for 10 years with a 30-year amortization. Kinder placed the loan with a regional banking relationship on behalf of the repeat client.
* A $5.3 million bridge loan was closed for the acquisition of a three-building apartment portfolio in Jamaica, Queens totaling 72 rent-stabilized units. The 12-month facility provided for 86% loan-to-purchase price with a reserve for physical improvements. Kinder arranged the loan with a New York-based debt fund. The property addresses are 90-16 171st St., 90-75 179th St., and 106-15 217th St.
* A $700,000 bridge loan to refinance a 26-unit apartment building at 800 East 173rd St. in the Bronx. The 12-month facility provided the owner with short-term funds to make physical improvements and prepare for a permanent loan (scheduled to close in late September).
* A $455,000 bridge loan to refinance a five-unit apartment building at 73 West 174th St. in the Bronx. The 12-month loan was made within CK Realty Partners proprietary on-book bridge lending program.
CK Realty Partners is based in Manhattan and primarily services investors within the Tri-State region and Upstate New York with the ability to work nationally. More about the firm can be found at www.CKRealtyPartners.com. Twitter: "CK_Realty"