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condo refinance - sm bldg w/commercial space

Started by elmeyers
over 13 years ago
Posts: 3
Member since: Apr 2008
Discussion about
I am looking to refinance a condo in a small building (5 units incl commercial space) and have had several lenders say they won't even consider the loan due to the commercial space. How do you refinance in NYC when the building has commercial space? Isn't that the majority of buildings in NYC?
Response by streetsmart
over 13 years ago
Posts: 883
Member since: Apr 2009

What is the percentage of commercial space in the building?

Ellen Silverman
E.S. Funding Co.
www.esfunding.instantlender.com

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Response by elmeyers
over 13 years ago
Posts: 3
Member since: Apr 2008

The commercial space is 1.5 units. There are 5 total units (including the commercial space). I didn't even get that far to describe that to the potential lenders.

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