500 rt 17 south, suite 303
hasbrouck heights, nj 07604

t. 201.383.4044 | f. 201.383.4088
44 Executive Boulevard, Suite 206
Elmsford, NY 10523

t. 914.208.2200 | f. 914.208.2201
case studies
the Property
Size: 48-unit garden community
Sale price: $6.7 million
Date closed: 2015
the Challenge
The owner had recently refinanced the property and faced a large pre-payment penalty. The owner, understandably, was looking to achieve a very high sale price to cover the cost of the penalty. Prior to coming to Redwood Realty, the owner had engaged several firms that had spent several months marketing the property unsuccessfully.
the Solution
The Redwood Realty team recognized that the complex needed to be presented with a professional marketing plan and a detailed strategy. The rents in the complex were well below market and we created an offering memorandum that clearly illustrated the upside. We also worked closely with the existing lender to structure a possible assumption of the loan.
the Result
Within 24 days, our team had a buyer in place who recognized the upside in rent potential and had ability to assume the loan. The project closed at full ask price with the buyer assuming the loan, which allowed the seller to avoid the pre-payment penalty.

Hackensack

Chatham

Hasbrouck

500 route 17 south, suite 303
hasbrouck heights, nj 07604
t. 201.383.4044 | f. 201.383.4088
44 Executive Boulevard, Suite 206
Elmsford, NY 10523
t. 914.208.2200 | f. 914.208.2201