Ando and Nasello of East Coast Comm'l. arrange a total of $6.6m in financing for eight properties

Chris Ando and Carl Nasello of East Coast Commercial teamed up to close $6.6 million in commercial real estate financing on eight properties to close out the 1st quarter of this year. In a market where quality commercial mortgage financing are becoming more difficult to find, East Coast Commercial has used their expertise and correspondent lenders to arrange a financing alternative for their customers. Ando arranged financing for a 28-unit mixed-use commercial property located on 699 East Main St. The property consisted of three retail store fronts and 25 apartments. The loan was arranged with an 80% loan to value mortgage, a five-year term and 30-year amortization at a fixed interest rate in the 6.9%. Another property financed by Ando consisted of a 20-unit apartment complex located on Reynolds St.in the inner city. The loan was priced in the 7% range and carried an 80% loan to value, 30-year amortization and allowed for 3% seller concessions. Additional financing from Ando consisted of a small retail building on West Broad St., a five-unit multifamily located in the Park Ave. District, a mixed-use property on Dewey Ave., and a vacant office/warehouse building on Forbes St. All of the loans were financed and structured with East Coast's expertise and corresponding funding network. The loans also carried 75 to 80% loan to value, amortization at 30-year and rates in the high 7% to mid 8% ranges. Nasello arranged purchase money financing for a mixed-use property located on East 198th St. in the Bronx. Financing consisted of a five-year fixed 80% loan to value, a 30-year amortization and an interest rate in the low 8% range. Nasello used his financing techniques along with his expertise to help a first time investor achieve his dream of owning commercial investment property. Nasello also arranged financing for an auto repair property located in Pine Valley and an eight-unit multifamily property on Ave. D. Both loans were done at an 80% loan to value and a 30-year amortization.With East Coast's financing programs, they were able to help strengthen business and investors in the inner city and throughout the upstate region. East Coast Commercial is a commercial mortgage banking company that structures, arranges, and closes commercial mortgages for acquisitions, refinances and refurbishment projects for developers throughout the United States and Canada.