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Crestline Direct Finance, Summit Capital Funding lend $16M on Lower East Side Condo Building

A partnership between developer Sheryl Hempel and Prosper Property Group has landed a $16 million debt package to complete a planned condominium development on Manhattan’s Lower East Side, Commercial Observer has learned. Crestline Direct Finance and Summit Capital Funding supplied the two-year floating-rate loan for the sponsorship’s six-story, 12-unit condo project at 330 Grand Street. The debt package will refinance an existing $12.35 million construction loan provided by Park...
New York United States Zach Redding Eddie Bender Sheryl Hempel Dylan Kane
Source: yahoo.com

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Reverse Point-of-Sale, Marketing and PR, TPO Products; Random TPO News; Ugly Insurance and Water News

While lenders are grappling with steadily increasing Agency repurchase requests, it’s National Donut Day! Someone had better offer those folks at State Farm Insurance a donut… maybe they’ll change their mind about cutting off insuring properties in California. Three thousand miles away, I wonder if Florida home owners should be happy of even having insurance despite it being four times cost of the national average. And good luck insuring anything built near the coast prior t...
United States New Providence Butte County Freddie Mac Tom Piecenski Brett Dooies

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