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Finance
Posted: February 12, 2015
Gomberg Financial Services arranges $3.68m refinance loan for a portfolio of 11 multi-family properties
Gomberg Financial Services has arranged a 75% LTV $3.68 million refinance loan for a portfolio of 11 multi-family properties. The loan is fixed for five years with an interest rate of 4.5%, and amortized over 25 years. The loan also included a separate $500,000 line of credit.
This loan was placed with a local credit union because it enables the borrower to prepay part of the loan after one-year with no prepayment penalty. The majority of the properties are 3-Family houses.
Gomberg Financial Services has had a very successful relationship with the borrower dating back over 15 years.
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Finance
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Columns and Thought Leadership
The focus on price per s/f compared to the comparable sales used in the appraisal report - by Dennis Chanski
Over the past several weeks, I have completed appraisal assignments for private clients. Interestingly, after submitting these appraisals, I received several phone calls – not to question the value, content, or any incorrect information, but rather to discuss the price per s/f compared to the comparable sales used in the report.
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Attention to owners of real estate in the Commonwealth (and the title companies and other professionals who advise them), the Massachusetts Department of Revenue (the “DOR”) recently adopted a new “millionaire’s tax” via 830 CMR 62B.2.4
Reverse exchanges and the challenges of a competitive real estate market - by Michele Fitzpatrick
Our current, highly competitive real estate market poses specific challenges for investors who are considering taking advantage of a tax-deferred 1031 exchange. In this market, investors will have no problem selling their current property if priced properly, but they may find it difficult to find a suitable replacement property
Are appraisers on the same page as the assessor? - by Richard Seman
The purpose of this article is to address problematic or confusing issues which may help assessors and appraisers to better understand how to value real estate for tax assessment purposes.
