Paradigm Commercial Real Estate closes $175 million refinance package

New York, NY Paradigm Commercial Real Estate LLC has closed a $175 million refinance package, secured by 11 multifamily/retail buildings located in Manhattan, and one in Brooklyn. The package, for which three regional banks were used, facilitated a cash-out for the borrower, while securing long term, interest-only debt, with favorable rates, and declining prepayment penalties. Among the package, were buildings located on an entire Amsterdam Ave. block, on Manhattan’s Upper West Side.

Having entered into the world of commercial real estate finance back in March of 1994,  Michael Edery founded Paradigm Funding in December of 1999 as a full-service commercial mortgage firm, to service the borrowing needs of clients, and to insure that their ability to capitalize on the debt available was fully maximized.

In 2008, the name Paradigm Commercial Real Estate LLC was adapted to better portray the company’s primary objectives.

Since its formation, Paradigm Commercial Real Estate LLC has arranged for well over $2 billion in first mortgage and mezzanine financing, for various property types located all across the continental United States.

In that, they act strictly as intermediaries to the lenders, it affords them the opportunity to place the loan with a lender that will be most suitable for the property at hand, and enables them to offer the most competitive and aggressive product.