Gannett Building Historic Renovation/Revitalization Loan Request by Dale King Property Address 55 Exchange Blvd., Rochester, NY 14614 Rochester, New York 14614 Overview Requested Loan Amount $$21,370,000 Loan to Value 61 Loan Term 24 Lien Position 1st Collateral Type Commercial Property Exit Strategy Refinance Collateral and Loan Details Commercial Property Type Mixed-Use Unit Mix Multifamily 85 Unit Mix Industrial 200 Unit Mix Office 17 Unit Mix Other 42 Number of Units 85 Current Occupancy Vacant Loan Type Refinance Square Footage 153350 Current Market Value 13462000 Equity Cash Out No Equity Cash Out Purpose Improve Subject Property Equity Cash Out Details Renovation of existing building. The property is owned free and clear. Appraisal No APN Parcel ID 261400-121-300-0001-030-000-0000 Lot Size 1.1 Property Photos Will additional properties be collateralized? No Borrower Entity LLC Borrower Credit Rating Excellent Additional Attachments h Comments There is an opportunity to refinance this property into a permanent loan after stabilization. Also there are $8,685,000 Tax Credits available. Dealmaker First Name Dale Last Name King Phone Number 315-439-0200 Company Cornerstone Associates, LLC Role Mortgage Broker Location Bluffton South Carolina USA Use the form below to contact the Dealmaker Notice: JavaScript is required for this content.
