About Cohen Commercial Equity
Cohen Commercial Equity is hard money lender based in Cambria Heights, NY. They offer funding across the country. Their lending focus is primarily on commercial hard money loans. They provide rates from 6% and loan amounts ranging from $100,000 to $500,000,000 with a maximum LTV of 70%. They make loans on various types of properties, including multi family, apartment buildings, office units, retail units, hotels/motels, storage facilities, senior living communities, mixed use buildings, warehouse spaces, industrial facilities, and medical facilities.
Loan Types Offered: Commercial Hard Money Loans
Property Types Covered: Multi Family, Apartment, Office, Retail, Hotel, Storage, Assisted Living, Mixed Use, Warehouse, Industrial, Medical
Areas Served: National
Lending Guidelines for Cohen Commercial Equity
Below are the general loan guidelines published on the Cohen Commercial Equity website. Please confirm all terms and rates directly with the lender.
Commercial Hard Money LoansLoan Amounts: $100,000 - $500,000,000
Available Rates: 6%
Typical Terms: N/A
Points Charged: 4% - 6%
Max Loan-to-Value (LTV): 70%
Max Loan-to-Cost (LTC): N/A
Owner Occupied Allowed: N/A
Interest Only Loans: N/A
Prepayment Penalties: N/A
Minimum FICO Score: N/A
Time to Close: 5 - 8 Weeks
The following loans are for education purposes only. They do not represent actual loans executed by Cohen Commercial Equity.
Loan Example 1
Calvin owns a business in Scottsdale, AZ and needs to buy a new warehouse to run his operations. Since he isn't able to get a standard loan from a bank, he turns to Cohen Commercial Equity for a commercial hard money loan. The building costs $360,000. Calvin will have to put 50% down, or $180,000, because the lender will loan only 50% of the acquisition (the loan-to-value or "LTV"). This means the principle amount on the note is $180,000. The parameters of the note include a 6 month term, a 10% interest rate, and 3 origination points paid by Calvin when the deal is closed. By the rules of the deal, Calvin will have to pay an origination charge of $5,400 at closing (3% x $180,000 principle amount) and will then make payments of $1,500 monthly ($180,000 principle amount x 10% interest / 12 months in a year). he will also make a balloon payment of the $180,000 principle amount upon expiration of the note, or before if he decides.
Loan Example 2
Cohen Commercial Equity makes a loan to Phillip for a remodeling project in Orlando, FL. The deal dictates the following:
$250,000 purchase price
65% loan-to-value (LTV)
6 month term
14% rate of interest
5% origination fee
If Phillip accomplishes his goal of a $325,000 sales price, the final numbers of the project would be as follows:
$325,000 sales price
- $162,500 principle (65% LTV)
- $87,500 cash paid at closing (35% on 65% LTV)
- $8,125 origination points (5% of the $162,500 principle)
- $11,375 total interest paid (6 months x 14% interest)
= $55,500 total profit (does not include taxes or rehab costs)
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