;)
Tyler WHITE:
💯 My name is Tyler White RealAtom’s head of sales. RealAtom is the industry’s number one lending as a service technology platform, empowering commercial real estate lenders like banks, credit unions, and non-banking organizations to generate more CRE loans. Today. I have the pleasure of introducing Jordan Gellman with Cross River Bank. Jordan. Thank you for taking the time to present to us today. Let me pass it over to you to kick things off.
Jordan Gellman
✅ Hi Tyler. Good afternoon. Thank you for having me. It’s an honor to be here and talk on the RealAtom platform. Today let’s discuss a little bit about what Cross River small Bank in Fort Lee does mainly to start off our markets are in the New York Metro area, New York, Connecticut, Pennsylvania, and New Jersey. You know, we are a New Jersey bank. So we focus on those areas as well as on a case on case basis lending now in the hot Florida market a couple of asset classes that we do have we have you know, we do it all Multi-Family warehouse mix use. All, everything that you could think of, we’re able to do it. You know, we have a couple of different platforms that we do have, we’ll start off with our stabilized loans. We are able to do anything from two units, no one to four families, two to four families. Those are the deals that we’re able to do. One-Off retail, a co-op, a condo, fractured condos. Those are, we’re able to do our deal sizes range from anywhere from 250,000 all the way up to 52 million. You know, not most banks, no, they’re not a lot of banks out there that are able to do the million and under that’s something that we really we focus on and we’re, we’re very good again that was done. And that another part of our platform is our construction and renovation loans. As you see, those are the high ticket, high you know, larger dollar amount loans, those really that range anywhere from 1 million and up, and we’re able to actually do a Perry pursue deals with that with other banks and, and come up together and work on those loans together.
✅ And those also, we do any type of asset types as well. We have a bridge loan, you know, a lot of hard money lenders out there, but we have bridge loans that are very nicely priced and again, any loan size, it goes for every single platform that we have. We have very interesting types of deals that we’re able to do a bridge to perm. You know, and we’re able to close as little as seven days on these types of loans. Hybrid loans were probably one of my favorite loan types that we do at Cross River. It’s a very interesting deal is it’s fully stable, it’s a fully vacant property we’re coming out of construction or acquisition that someone may have that is not fully occupied at the moment, but one once, you know, a longer-term loan, not looking for a one year bridge or two-year bridge, but more looking for a 10-year term when it’s 25 to 30-year amortization.
✅ So we’re able to give you a five-plus five at closing. So as starting with a bridge rate, and then once the property is fully occupied, where that rate converts with no fee, no separate closing, all one closing, and just converts after it stabilized to a permanent rate. We have a team of two construction guys. And then we have two people like myself and Neelum who work on the multifamily, permanent stabilized loans. Tyler, that’s it for me. I appreciate you taking the time and letting me speak a little bit about Cross River.
Tyler WHITE:
💯 Perfect. I appreciate it, Jordan, and a special thanks to you and the Cross River banking team for taking the time to present to us today. If you’re interested in speaking with Jordan Gellman or any of his team members, please do not feel hesitate to contact them directly. If you’re interested in speaking with me in between podcast episodes, feel free to email me directly tyler@realatom.com. And if you’re interested in learning more about RealAtom or participating in the lender podcast series, please visit our website realatom.com. Thanks again, Jordan, and thanks to everybody for attending. And I’ll see everybody on the next podcast episode, take care. 🧨
Spotify
Podbean
Google Podcasts
iHeartRadio
Amazon Music
Listen Notes
Player.fm
Pandora
