The Carlton House…need I say more? I think not. Still, I will elaborate for the sake of waxing poetic on what was a very difficult loan to close. One of Architectural Digest’s Top 100 interior design firms, Katherine Newman Design, and acclaimed architectural firm Beyer Blinder Belle have collaborated with Extell Development Company to transform The Carlton House into exceptional luxury residences. The fact that these residences are so completely desirable is not the only reason this particular loan was a special one to close. Our buyer on this loan is a Foreign National. He has no US credit or Social Security Number and all of his assets are overseas. This makes things tricky. With a purchase price of $9 million dollars and being a COOP, this loan should have been nearly impossible.
Taking all of that into consideration, it is no wonder that we are boasting how the very experienced and savvy team at Northstar Funding Inc. made it happen. William Kumpf was the Loan Officer who brokered this deal and who specializes in Foreign National Loans. In record time (29 days!) William Kumpf closed and funded this loan. This is a clear testament of the strong teamwork within Northstar Funding and the exceptional people we have here. We are not only proud to congratulate ourselves on this one but also very happy to have seen our client into his home so quickly and seamlessly.