Nanuet, NY — $648,000 Commercial Condo Purchase
A $648,000 purchase loan that let an accounting firm convert from leasing to owning its Nanuet, NY office condo.
$648,000
Loan Amount:
LTV %:
60%
Nanuet
City:
Commercial Condo (Office)
Property Type:
Purchase
Transaction Type:
An accounting firm in Nanuet, NY wanted to transition from leasing to owning its office space, but was working with a large national bank whose loan process became delayed and difficult to manage — requests stalled and timelines slipped, risking the transaction despite a viable purchase opportunity.
Essencap quickly sourced a regional bank relationship better suited to the transaction and matched the borrower with a lender that understood its business needs.
The firm successfully purchased its commercial condo, converting monthly rent payments into equity ownership and establishing a permanent office location.
Essencap secured $648,000 in purchase financing at 60% loan-to-value.
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