BENEFITS OF OWNERSHIP
Ownership at 866 UNP offers a variety of unique economic and operational advantages over a traditional office leasing.
AVERAGE SALE PRICE PSF UP 50% SINCE 2011
The long-term value of commercial condominiums in the supply-constrained NYC office market has shown consistent historical appreciation and ROI.
SIGNIFICANT TAX SAVINGS
Educational, non-profit and governmental organizations are exempt from paying commercial rent tax (CRT) on owner-occupied commercial real estate (OOCRE), while tenants that lease space must pay a CRT of 6% of their base rent. This exemption can lead to millions of dollars in savings over a typical lease term.
STABILIZED OPERATING COSTS
Occupancy costs remain predictable, allowing for precise operating budget projections and protection from market fluctuation or competing landlord objectives.
EQUITY INSTEAD OF OVERHEAD
Recent changes in accounting standards now require long-term commercial leases be shown on an organization’s balance sheets, making standard office leases more of a liability with no upside, while buying office space provides an asset that will grow in value or help secure credit.
ATTRACTIVE INVESTOR OPPORTUNITY
Office condos at 866 UNP offer low-maintenance and high-yield investment opportunities requiring minimal management and predictable monthly cash flow secured by long-term leases with escalating annual rents. Leased office condominiums are attractive to many lending institutions and yield competitive financing terms, including high LTV ratios and low interest rates.
FINANCING PARTNERSHIP
EXCLUSIVE PREFERRED LENDING PARTNER
866 UNP has engaged Pursuit as our preferred lending partner for prospective condominium buyers. Our Pursuit team, led by Christa Peretin who specializes in owner-occupied commercial real estate (OOCRE) and SBA lending, is wellversed in the wide array of financing options and services available to condo buyers at 866 UNP.
For more information, visit PursuitLending.com
Christa Peretin
VP, Commercial Loan Officer
Pursuit Business Loans
p 518.810.0856
e cperetin@pursuitlending.com
FREQUENTLY ASKED QUESTIONS
WHAT KIND OF TERMS ARE AVAILABLE FROM PURSUIT?
For owner-occupied commercial real estate purchases, Pursuit offers loans with below-market interest rates fixed for the life of the loan, terms of up to 25 years, and up to 90% financing.
WHAT CAN I FINANCE WITH A PURSUIT LOAN?
You can finance a variety of costs associated with an owner-occupied commercial real estate purchase, including the property itself, any cosmetic renovations or finishes, soft costs (including environmental and appraisal fees), and machinery or equipment purchases.
HOW MUCH WILL I BE REQUIRED TO PUT DOWN?
Pursuit leverages the SBA 504 program to provide loans that require just 10% down. This puts owning commercial real estate within reach for many businesses. For more on SBA loans, visit.
DISCLAIMER & LEGAL DISCLOSURES
DISCLAIMER & LEGAL Small Business Administration (SBA) collateral and documentation requirements are subject to SBA guidelines. You must be 18 years old or otherwise have the ability to legally contract for automotive financing in your state of residence, and either a U.S. citizen or resident alien (permanent or non-permanent).Commercial Real Estate products are subject to product availability and subject to change. Actual loan terms, loan to value requirements, and documentation requirements are subject to product criteria and credit approval. For Owner-Occupied Commercial Real Estate loans (OOCRE), a loan term of up to 25 years and owner occupancy of 51% or more are required. Small Business Administration (SBA) financing is subject to approval through the SBA 504 and SBA 7(a) programs. Subject to credit approval. Some restrictions may apply. Small Business Administration (SBA) financing is subject to approval through the SBA 504 and SBA 7(a) programs. Loan terms, collateral and documentation requirements apply. Actual amortization, rate and extension of credit are subject to necessary credit approval.
COMPLIMENTARY CONSTRUCTION MANAGEMENT
PROVIDED BY SPONSOR
The sponsor at 866 UNP offers condominium buyers complimentary consultation and project management as part of the space planning and construction process. This service provides savings on outside materials and an efficient streamlined build-out process, while controlling all aspects of design for highly optimized occupancy
