Leviathan Capital announced that Peter Cohen successfully arranged a $4.75 million bridge loan to refinance a maturing loan on a four-unit, mixed-use building in Manhattan’s West Village.
The financing was structured with a floating rate of Prime + 1.75% (8.25% floor), a 24-month term, no prepayment penalty and a 1% origination fee.
With the borrower’s existing loan approaching maturity, execution speed was the deciding factor. Cohen arranged and closed the refinancing in approximately two weeks, delivering certainty of execution well ahead of the deadline.
