Financing in 10019>Question Details

Cbcchef, Both Buyer and Seller in New York, NY

Does anyone know of a bank that is financing in a Condotel in NYC? I am looking to get a HELOC on our Condo that is classifed as a Condotel.

Asked by Cbcchef, New York, NY Thu Aug 16, 2012

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some bank that keeps loans on their balance sheet rather than sells...
I heard that Cathay bank has a liberal lending policy
0 votes Thank Flag Link Thu Oct 11, 2012
I'd suggest trying a mortgage broker. The fact that the building is also used as a hotel makes your request somewhat unusual, and good mortgage brokers are experts at unusual situations.

Karla Harby
Licensed Real Estate Salesperson
Rutenberg Realty
New York, NY
212-688-1000
0 votes Thank Flag Link Thu Aug 16, 2012
Yes, it is possible. But, there are more questions I would have to ask about it. If you are interested, you can email me direct at erikaroberts2002@yahoo.com
0 votes Thank Flag Link Thu Aug 16, 2012
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