$66MM Multifamily Development | New York, NY

Structured and arranged a construction loan to develop an 87,000-square-foot, 69-unit multifamily rental property with office space on the first two levels that will serve as the new U.S. Embassy for The Republic of Senegal.


Sponsorship, which included a subsidiary of a sovereign entity, required a non-recourse construction loan. Furthermore, a factually challenged appraisal unbalanced the borrower’s land equity contribution.


Identified a lender that got comfortable with the limited net worth and liquidity of the sponsorship team after considering the sizable land equity contribution made.

Crafted a creative off-balance sheet financial solution to “right size” the underwriting metrics, thereby allowing the borrower to minimize its additional cash requirements.

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Seth Schumer


Seth Schumer joined Eyzenberg & Company as a Managing Director. His primary focus is transaction management and structuring advisory for commercial real estate finance transactions.

Prior to joining the firm, Schumer served as Head of US Investments for Quadrum Global (formerly Cube Capital) where he grew platform from one US hotel investment to an 18-asset mixed use portfolio through new acquisitions, ground-up developments, team building and creation of three internal operating platforms (Tesseract Investment Advisors, Arlo Hotel Management and Quadrum Senior Living Management). While at Quadrum, Schumer acquired, capitalized and asset managed a hotel portfolio that includes Arlo SoHo, Arlo NoMad, Nautilus South Beach, The Godfrey Hotel Chicago, Essex Inn Chicago, and B Resort & Spa at Walt Disney World, and led the efforts to create an in-house hotel management platform and the new Arlo Hotel brand. He additionally led the efforts to develop a senior housing property and the Amavida brand.

His expertise in debt financing including loan underwriting, servicing and borrower relations was learned while working in London for ABN AMRO, and in New York for Chase Manhattan Bank and Chemical Bank. Whilst at AIG Global Real Estate and Real Estate Capital Partners (now CP Capital), he additionally gained asset management, development insight and JV equity structuring experience. Also, during his time at AIG, Seth was part of team that acquired four RTC loan portfolios.

Schumer holds a master’s degree in real estate investment and development from New York University and a bachelor’s degree in accounting from the University of Maryland.



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