The Client

A married Chinese couple with a five-year goal of having their children study in NYC purchase a luxury condo.

The pair were looking to for a safe, investment grade condo near NYU for their two twin boys to study at the same university as their family in 5 years.

The Property

A luxury two bedroom Washington Square condo within walking distance to NYU.

The Deal

Non US citizen with no US credit. Looking for 65%LTV.

The Challenge

Property was being sold “fire-sale” and clients needed to act quickly as there were multiple back-up offers.

The Solution

As time was of the essence, the clients did not have time to organize their financials GMG suggested a quick close with GMG Bridge and then within six months refinance into a long term, fixed mortgage at a significantly lower rate.

Loan Details

Loan TypeProperty ValueLoan AmountLTVGMG Program
Bridge Purchase$5,600,000 $3,640,000 65%GMGFN Bridge
Loan TypeBridge Purchase
Property Value$5,600,000
Loan Amount$3,640,000
LTV65%
GMG ProgramGMGFN Bridge

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