Institutional Refinance and Renovation Loan for Commercial Property in Chinatown, New York

Deal Details

Private Loan Type


Approx. Funding Date


Property Type
Event Center
Property City


Property State


Lien Type

1st Mortgage

Payment Type

Interest Only

Deal Highlights

Owemanco provided first & later second mortgage refinancing of two institutional loans.

Deal Summary

Ontario Wealth Management Corporation, a Toronto-based commercial real estate loan origination and servicing company, funded a $7,350,000 bridge loan secured by an event center in Chinatown, NY. Owemanco provided first and later second mortgage refinancing of two institutional loans secured by a 4-story, 12,000-square-foot commercial building in Chinatown, NY. The bottom two floors are occupied by a fine-dining Chinese restaurant while the upper two floors are in shell condition and pending conversion into a karaoke bar. This CRE refinance bridge loan was funded in May 2019.

Funded By

Ontario Wealth Management Corporation

Direct Lender for Commercial Real Estate Bridge Loans