Structured and arranged a construction loan for the completion of a 5,100-square-foot townhouse located in Brooklyn, N.Y.
Challenges
Client was seeking to pay off an expiring construction loan and required additional proceeds to fund cost overruns on the project. Furthermore, the client was experiencing a short-term liquidity crunch in addition to incurring additional cost overruns during the closing process.
Solutions
Identified a lender that would capitalize a first-time sponsor and advance incremental loan proceeds. Funded an expense deposit, on behalf of the client, to avoid delays in closing. Negotiated a reasonable increase in overall lender costs as a result of fluctuating factors after the term sheet was executed.
Gary Melman joined Eyzenberg & Company in 2024 and is responsible for
originating, structuring, and placing debt and equity capital for commercial real estate
transactions throughout the U.S.
Gary is a seasoned commercial real estate finance and investment manager with
substantial institutional experience in capital markets, financing, acquisitions, and
asset management across various asset classes during his prior roles at J.P.
Morgan, TIAA-CREF, American Realty Advisors, and PCCP.
Prior to joining Eyzenberg & Company, Gary was responsible for capital markets at
Intracorp Homes, originating and placing capital for Intracorp’s multi-family,
townhome, and condominium ground up development projects on the West Coast.
Gary received an MBA in Finance from NYU Stern School of Business, a BBA in
Finance from Pace University, and is a licensed real estate broker in California.
gmelman@eyzenberg.com
D: (305) 995-0777 ext.729
Thank you. Your newsletter subscription has been confirmed. You've been added to our list and will hear from us soon.
