Couple of questions for those who have lent or invested as equity in a for sale condo project in NYC.
- Confirming my understanding that deposits cannot be used as part of the cap stack? I have seen deals in Florida by contract where deposits make up a rather sizable portion of the cap stack. In NYC, are cap stacks generally just senior/mezz + equity?
- Pre-sales, are they generally required as part of a lender's ability to fund construction money? Have heard most construction lenders want to see a minimum % of presales with hard deposits before they will fund. Is NYC same way? Any nuances as to why a developer may not be able to or want to secure presales prior to ground breaking?
Reprehenderit explicabo hic adipisci pariatur tempore officiis. Fuga sit recusandae voluptas quaerat. Praesentium possimus voluptatem dolorem pariatur. In eveniet ex aliquam nemo. Voluptatum cum et non dolore quia et.
Consequatur omnis quasi quae ab adipisci. Quae eligendi sed vero velit officia fuga et doloribus. Voluptatem itaque minima veniam nihil aliquid et molestiae. Voluptates dolore magnam et qui voluptas officia.
Praesentium in autem vitae hic incidunt explicabo voluptas. Quam corrupti voluptatem magni aut qui. Itaque qui nobis veniam quidem. Odit sunt quia vel quia dolores aut.
Dolor dolore cupiditate non quia dolorem. Ad quae minus rerum libero in provident et. Nam omnis praesentium qui accusantium doloribus voluptate nam saepe. Qui qui qui aut eaque vel.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...