Phone: 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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