Stephen G. Kliegerman
President of Development Marketing
Developers of The Fitzgerald, a converted Harlem development, are offering buyers an easy financing deal.
The developers at 257/117 Realty LLC will personally finance any mortgage notes necessary for buyers for a limited time. Qualified buyers are offered a seven year loan on a 30-year amortization schedule at half a percent less than the interest rate Citibank is offering currently. The deal also ensures no prepayment penalties, no closing costs and no processing fees.
The developers say the financing deal was created in direct response to concerns of being approved for a mortgage from a traditional lender based on the current economic conditions. Units range in price from $655,000 to $1.85 million. Halstead is the exclusive agent.
Wednesday, July 16, 2008