Programs and Case Studies
City One is a full service industrial and commercial brokerage firm that specializes in properties in Queens, Brooklyn, and the Bronx. City One provides "one-stop shopping" with a full range of economic development consulting services expediting the following:
- 90% owner occupied SBA 504 and 7A programs
- Conventional financing utilizing conventional banks, insurance companies, small regional banks, etc.
- IDA Straight Lease incentives (aka Industrial Incentive Program – IIP)
- ICAP and ICIP Property Tax Abatements and Exemptions
- Relocation Employment Assistance Program Tax Credits (REAP)
- Relocation Grants
- Energy Discounts (ECSP)
- Tax Exempt Bond Financing (IRB’s and IDA programs)
- Empire State EDZ Tax Incentives
- Linked Deposit Financing Discounts
Construction FinancingCity One assisted an owner/user in the fragrance industry secure a 90% SBA 504 financing package for the purpose of constructing a new office headquarters and warehouse. Project construction costs were approximately $2,000,000 and the company will also seek ICIP/ICAP Department of Finance tax abatements and energy cost savings program discounts.
Real Estate AcquisitionCity One secured an ice cream manufacturer 90% financing, combining a conventional loan with an SBA loan program to help this company buy a building in Hackensack, New Jersey. The company is now producing fine ice cream and distributing it to its various retail and wholesale customers in the NYC metropolitan area.
Machinery FinancingCity One structured a unique transaction to help a taco bakery acquire machinery financing with long-term attractive rates. The owner/borrower utilized their existing building to secure a mortgage with long term low interest rates and provide the collateral to acquire this state-of-the-art machinery for their manufacturing plant in the Jamaica section of Queens.
RefinancingCity One arranged, structured, and secured an 80% loan to value, long term real estate refinance for an owner/occupied property in Plainfield, NJ. This loan provided for significant cash out reimbursing the owner for renovations that occurred some 8 years earlier.
AcquisitionA pita manufacturing company utilized the services of City One to secure a 90% (504) loan to acquire a building for their use. The property was located in the Long Island City section of Queens and in conjunction with the 90% financing, City One structured a New York City IDA Straight Lease deal, that provides for a 25 year property tax abatement and property tax freeze.
RefinanceCity One arranged a first mortgage and cash out to finance a shareholder buyout of a property located in the Bronx. This owner/occupied transaction was for $6,000,000.
Financing & IDA Straight Lease
City One structured and arranged two loans to secure a 90% loan to value financing, utilizing the SBA 504 program and a conventional bank. Simultaneously, the buyer took advantage of the New York City Industrial Development Agency’s Straight Lease program, providing the owner with a 25-year real estate tax freeze and property tax abatement for this real estate acquisition.