Joseph Scott News

Joseph|Scott closes on $1.35mm 12 unit commercial condo refi

Joseph|Scott arranges $1.35mm cash out refinance perm loan for 12 unit commercial condo

New York, NY (September 2008)--In one of the most difficult real estate markets in the country, Joseph|Scott has arranged financing on a 12 unit commercial condominium building in South Florida.  Joseph|Scott was able to negotiate a reduced pre-payment penalty, and a shortened personal guaranty by the principals.  In addition, Joseph|Scott was able to negotiate through the problem of hostile building tenants who refused to sign SNDA's and Estoppels without rental concessions, and have those document requirements waived.  The expertise and experience of the staff at Joseph|Scott allow the company to meet the needs of clients and navigate through the most difficult environment in decades.

Located in New York, NY Joseph|Scott Commercial Funding is a boutique real estate finance advisory firm specializing in commercial real estate finance.  The company specializes in permanent financing, bridge loans, acquisition and development, construction and working capital loans. Call Scott today at 212-947-8877 with your financing needs.

Joseph|Scott closes on 18 unit Multi-Family refinance

Joseph|Scott arranges $1.25mm cash out refinance Perm Loan for 18 unit MFR in Farmingdale, NY

New York, NY (August 2008)--In the extermely difficult market for real estate related finance, Joseph|Scott arranges financing for an 18 unit multi-family property in Farmingdale, NY.  The transaction had strict requirements put in place by the borrower, such as a non-recourse loan significant cash out, and no property tax or insurance escrows.  Joseph|Scott was able to close the deal satisfying all borrower parameters while securing a long term fixed rate below market.

Located in New York, NY, Joseph|Scott Commercial Funding is a boutique real estate finance firm specializing in commercial real estate finance.  We offer permanent financing, bridge, acquisition and development, construction and working capital loans.  Call Scott today at 212-947-8877.

Joseph|Scott Closes 89 Unit Coop Refinance

Joseph|Scott arranges $2.2mm cash out perm loan for 89 unit coop.

New York, NY (July 2008)--After searching for financing for more then one year without success, the board of directors at Coleman Towers approached Joseph|Scott Commercial Funding for assistance in obtaining a "hard money" loan.  The board members did not believe that traditional financing and attractive terms were available to the building due to the complex structure of the coop and the distressed financial condition of the building.  Joseph|Scott's market knowledge and familiarity with the coop structure enabled them to procure a 10 year fixed rate loan at bank terms, saving Coleman Towers literally hundreds of thousands of dollars over the term of the loan.  The loan also allowed the board to pay all outstanding back taxes and debts owed by the building, build a strong reserve account, and fund a large scale renovation of the property.

Joseph Scott Arranges $5.3MM Development Loan

Joseph Scott Arranges $5.3MM Construction Loan for Residential Development in Florida

New York, NY(October 22, 2007) -- At a time when residential developments in Florida are nearly impossible to get financed, Joseph Scott has arranged $5.3MM in senior debt financing for a 335-unit single- and multi-family community in Lake Placid, Florida. The deal was structured as 36 month, senior construction loan, and was funded by one of Joseph Scott?s private money sources. The existing note on the property was in default, so speed and certainty of closing was imperative. From start to finish, the Joseph Scott team was able to structured, place and close the loan within 45 days.

Located in New York, NY, Joseph Scott is a boutique commercial and residential real estate finance firm, specializing in acquisition, development, bridge and mezzanine as well as residential financing. The company has a reputation for getting complex transactions done, and has built relationships with some of the nation?s largest funding sources, including on-balance sheet lenders, specialty financing companies, hedge funds and private equity firms. For more information on how Joseph Scott can assist you, call (212)947-8877 or visit www.josephscott.com.

Joseph Scott Arranges $7.3MM Construction Loan

Joseph Scott Arranges $7.3MM Construction Loan for Entertainment Center

New York, NY (October 23, 2007) -- When the developers of the first Firkin and Kegler Pub in Florida realized a shortfall in their original construction loan, they turned to the experts at Joseph Scott for the money needed to finish their project. Due to the type of project it was - sports bar and bowling alley ? the developers had experienced a number of rejections from various banks and lending institutions prior to meeting the Joseph Scott team. In less than 60 days, Joseph Scott was able to successfully structure and close the new construction to permanent financing for the developers, and get them back track for a January 2008 opening.

Located in New York, NY, Joseph Scott is a boutique commercial and residential real estate finance firm, specializing in acquisition, development, bridge and mezzanine and residential financing. The company has a reputation for getting complex transactions done, and has built relationships with some of the nation?s largest funding sources, including on-balance sheet lenders, specialty financing companies, hedge funds and private equity firms. For more information on how Joseph Scott can assist you, call (212)947-8877 or visit www.josephscott.com.

Joseph Scott Closes $3.6MM Bridge Loan

Joseph Scott Procures $3.6MM Bridge Loan for Retail Center in Middletown, NY

New York, NY (November 19, 2007) -- Seeing an opportunity to acquire the shopping center where he leased retail space, our client needed to find capital quickly. With his purchase price well under market value, our client, knowing he wouldn?t have much time to close the deal, turned to the professionals at Joseph Scott. Within 30 days, the team at Joseph Scott was able to arrange a $3.6MM, 97% LTC bridge loan with one of its on balance sheet lending sources.

Located in New York, NY, Joseph Scott is a boutique commercial and residential real estate finance firm, specializing in acquisition, development, bridge and mezzanine financing. The company has a reputation for getting complex transactions done, and has built relationships with some of the nation?s largest funding sources, including on-balance sheet lenders, specialty financing companies, hedge funds and private equity firms. For more information on how Joseph Scott can assist you, call (212)947-8877 or visit www.josephscott.com.