Gala Resources


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galaresourcesPhone: 212-302-8840

Address: 1212 Avenue of the Americas, New York, NY 10036

Website: http://www.galaresources.com

States They Lend In: New York, New Jersey, Connecticut, Massachusetts, Pennsylvania, Maryland, Washington DC,  Virginia

 

Financing available for:

 

• Bank-foreclosed residential properties
•REOs
•Short Sales
• Multi-family buildings
•Bridge loans
•Real estate acquisition

 

Loan size: $500,000 and up.

No owner-occupied properties.

 

Lending Basics

 

FEES AND TERMS

 

Application Fee: None
Security: First Mortgage Position
Loan to Value: Up to 65%
Loan to Cost/Renovation: Up to 75%
Loan Size: Starting at $100,000
Loan Term: 1 year
Interest Rates: Starting at 13%
Origination Fee: Starting at 3%
Prepayment Penalties: None
Minimum Loan Term: None
Appraisals: required for any loans greater than $250,000

 

FINANCING AVAILABLE FOR

 

We work with real estate investors to provide short-term funding for:
• Bank-foreclosed residential properties
•REOs
•Short Sales
• Multi-family buildings
•Real estate acquisition

As commercial lenders, we do not finance owner-occupied properties.

 

AREAS SERVED

 

Each link below shows some of our closed transactions in that area.
• New York City
Bronx, Brooklyn, Manhattan, Queens and Staten Island
• New York State
Long Island Nassau and Suffolk counties
Westchester and Rockland counties
• New Jersey
• Connecticut
• Massachusetts
• Pennsylvania
• Maryland, District of Columbia and Virginia

 

Loan Criteria :

 

Loan Size: From $500,000.00 & Up

Property Types:

All types considered – multifamily, condominiums, office, mixed user, retail warehouse, industrial, hospitality

Terms: 6 – 12 Months

Interest rates: From 12%

LTV: Up to 70%

Uses of proceeds :

Acquisitions, restructuring, discounted payoffs, property improvements, construction, Geographic

 

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