News:
Brokerage
Posted: April 20, 2020
SKW Funding closes $30 million financing – secured by Upper East Side property
Manhattan, NY SKW Funding closed on $30 million in financing to support the acquisition of an existing loan and related bankruptcy court approved "debtor in possession (DIP) loan for a building located on the Upper East Side.
The financing is secured by the property at 305 East 61st St., a mid-construction condominium conversion that will feature residential condominium units and ground floor retail.
"The SKW team worked diligently with a new take out lender to structure a deal with maximum flexibility that skillfully accommodated the unconventional DIP loan structure," said SKW's Daniel Wrublin, who negotiated the transaction. “We are pleased to have executed for our borrower on this deal under extremely challenging global circumstances."
SKW, which was founded in 2014 by principals Ayush Kapahi, Jerry Swartz, Daniel Wrublin and Andrew Wrublin, is a New York-based opportunistic investment platform that has originated or purchased hundreds of millions of dollars in loans focusing on debt investments and originations across every category of commercial real estate throughout the nation.
"SKW Funding's platform was designed to be a creative and flexible capital resource for both borrowers and lenders in tough times," Kapahi said.
Tags:
Brokerage
MORE FROM Brokerage
Realty Connect USA joins Better Homes and Gardens Real Estate affiliates to form one of the brand’s largest brokerages
Madison, NJ Better Homes and Gardens Real Estate LLC agreed to a landmark merger between three leading brokerages across New York, New Jersey, and Pennsylvania. The agreement brings together
Quick Hits
Columns and Thought Leadership
Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,
A fresh start - by Shallini Mehra and Amit Doshi
For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced
The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman
July 1, 2025 is the deadline for US banks to begin to adopt Basel III banking standards and July 14, 2025 is the deadline for U.S. banks to adopt ISO 20022 messaging standards. Both will have a significant effect on the banking and commercial real estate (CRE) finance sectors.
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian
There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
