Straight shooter brokers $2.7m loan with benefits.
Robert Morel, Director of Financial Services and co-founder of City One Real Estate, LLC, recently brokered a $2.7 million real estate acquisition loan for LJJ Inc.
This 90% LTV financing was structured with two economic development programs; the NYBDC and the SBA 504 Program.
Morel specializes in assisting owner occupied companies secure a wide variety of economic development benefits from various lenders and City and State agencies.
As part of the financing package, Morel secured LJJ NYC Industrial Development "Straight Lease" benefits in the form of significant property tax savings and Mortgage Recording Tax Waivers.
According to the New York City IDA, the benefits to LJJ were worth hundreds of thousands of dollars over the 25 year term of the "Straight Lease".
The company will also be eligible for a 20% electricity discount for ten (10) years and other benefits due to its location in the New York State Empire Zone.
Morel is one of a handful of consultants in New York City who expedite and quarterback the process for companies as they wind their way through various City and State economic development and financing sources' approval processes.
In addition, make sure to read these articles:
- Rite Aid to anchor new Bronx shopping center.
- CFT Consulting welcomes Rick Massmann; New director of Financial Services.
- Robert Morel.
- Robert Morel.
- Robert Morel.
- Robert Morel.
- Versatility appoints former bank executive as Director of Financial Services Marketing.
- The city and state utility tax ... tax, tax.
- Proactive Worldwide Acquires New Director of Financial Services.
- City One Real Estate and Financing.
- Straight lease benefits Acme.
- City One Real Estate.
- IDA incentives, land sales aid Brooklyn industrial firms.
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