Builders Bank serves smaller and mid-size commercial real estate borrowers in the greater Chicago, New York and Los Angeles markets.
Our entrepreneurial approach and team of creative, seasoned lending professionals enable Builders Bank to provide superior service.
We pride ourselves on recognizing unique financing opportunities, responding to submissions quickly, underwriting each loan with an eye toward problem-solving,
and providing certainty of execution for time-sensitive transactions.
Our basic lending parameters are described briefly below. Please click on Contact Us or contact one of our staff
for an in-depth discussion of your financing needs.
||Financing available for new ground-up construction, assets in transition and refinancing.
||$1-6 million; possibly higher on a case-by-case basis.
||12-60 month initial term; extensions available.
||All types of property, including apartment, office, retail, industrial, mixed-use and condominium development projects.
||Construction, acquisition, refinancing, mini-perms, and perms.
||Target markets are Illinois, New York, and California.
||Construction and Value-Added Loan: Floating Rate over Prime; typically subject to a floor. Straight Refinance: Fixed Rate available.
||Typically 60 days after receipt of information.
Mitchell Saywitz – Chairman and CEO
Along with his overall management duties, Mr. Saywitz is responsible for loan originations in the greater Los Angeles area. Mr. Saywitz founded Builders Bank in 1997. Prior to that he was actively involved in real estate development. Having formerly lived in Los Angeles, Mr. Saywitz has a thorough knowledge of the Los Angeles real estate market.
(312-977-1435 / firstname.lastname@example.org)
Shannon Eidman - Executive Vice President/Chief Lending Officer
Mr. Eidman has overall responsibility for Builders’ Lending Department including loan origination, business development and the Bank’s regional loan production office. Mr. Eidman holds a JD and began his real estate career practicing law with a concentration in middle market development companies. Prior to joining Builders Bank, he worked with Cohen Financial as an analyst/consultant focusing on valuations of and for REITS, Opportunity Funds and direct originations.
(516-333-9200 / email@example.com)
Kim Carson - Vice President
Ms. Carson is responsible for loan origination and underwriting in the metropolitan New York area.
She joined Builders Bank in 2009 with over 15 years experience underwriting and financing commercial real estate and construction loans.
Prior to joining Builders Bank, Ms. Carson was a Construction Loan Officer at HSBC Bank and held positions as both a
Relationship Manager and a Credit Manager at Washington Mutual Bank.
(516-333-9200 / firstname.lastname@example.org)
$8,600,000 - Coronado Retail / Office Building, Coronado, CA
Builders Bank provided construction financing for this retail / office development in Coronado, located across the bay from downtown San Diego.
Coronado is considered one of southern California's most desirable residential communities.
The property was designed by one of San Diego's leading architects, Galvin Cristilli Parshalle Architects.
The 3-story retail / office building was built over one level of subterranean parking.
In addition to its breathtaking design and ocean views, the plentiful parking is a key amenity in the land-constrained community.
$7,600,000 - Soho Mixed Use Building, New York, NY
Builders Bank provided construction financing for the ground up development of a mixed use building containing five floor-through luxury condominium units over ground floor
retail on Mercer Street in the Soho neighborhood of Manhattan.
The vertical improvements were constructed on a ground leased parcel.
Upon completion, the Sponsor sold three of the residential units and opted to hold onto the remaining two along with the retail unit for which the bank provided a 3-year loan.
$4,177,400 - Auburn Street Row Homes, Los Angeles, CA
Builders Bank provided construction financing for this development which was completed utilizing the City of Los Angeles' small lot subdivision ordinance.
The development is located in the Silver Lake neighborhood and consists of seven, two-story, single-family detached row homes, each constructed over a private 2-car garage.
The individual units contain 3 bedrooms and 2.5 baths.
$4,150,000 - Soho Mixed Use Building, New York, NY
Builders Bank provided financing for the conversion of an existing pre-war, five-story mixed use building containing four full floor commercial
units situated above a restaurant.
Upon completion, the four commercial units are to be converted to residential while the ground floor restaurant continues to operate.
The Bank was able to structure its financing in consideration of the M1-5B zoning designation which provide for an “Artist in Residence” requirement.
$5,735,000 - Los Feliz Villas, Los Feliz, CA
The 15-unit Mediterranean-style condominium project is located on Los Feliz Boulevard in the sought after community of Los Feliz,
tucked between two Los Angeles parks - Griffith Park to the north and Barnsdall Art Park to the south
$3,500,000 - East Village Building, New York, NY
Builders Bank provided financing for the renovation and expansion of an existing 5-story mixed use building in the East Village.
Conversion included adding 2 floors to the existing structure.
A total of four residential units were developed, including one triplex within which the second floor façade and rear wall retract into the unit to create an
indoor/outdoor space with living area and kitchen.
The project was featured in various publications, including New York Magazine, The New York Post, Elle Décor UK and The Guide to Contemporary NYC Architecture.
$9,400,000 - Studio Villas, Studio City, CA
Builders Bank provided construction financing for a new 31-unit condominium project in the highly desirable Studio City, less
than 1/2 mile from the Ventura Freeway, adjacent to CBS Studio Center.
The Sponsor is an established Los Angeles-based residential developer with over 30 years in the real estate business.
When the developer decided to hold onto a small number of the units for investment purposes, the Bank provided a three-year mini-perm loan for the units.
$2,025,000 - 4th and Ocean Park Boulevard, Santa Monica, CA
Builders Bank provided financing for the redevelopment of a 7-unit apartment project, including expansion of the building.
The apartments are located blocks from the Santa Monica Beach and within walking distance to the shops and restaurants on Main Street.
Certain units offer private roof decks, patios and balconies.
All approvals were in place at the time of closing.
$4,350,000 - 1234 North Hayworth Avenue, West Hollywood, CA
A very successful owner of multifamily properties on Los Angeles' Westside approached Builders Bank with a special financing need -
provide a higher leverage loan to acquire an under-managed 48 unit property in West Hollywood, being purchased in a time-sensitive probate court sale.
The Builders loan, completed in under 30 days, enabled the borrower to close on the property and begin to enhance net income by removing units from local rent control restrictions.
$5,850,000 - Neighborhood Retail Shopping Center, Duarte, CA
Builders Bank was approached by a successful real estate developer to provide financing for the acquisition of three adjacent parcels of land and the
construction of a retail shopping center in Duarte, California.
Major tenants include La-Z-Boy, Panda Express and Payless Shoes.
Other major retailers, such as Wal-Mart, Home Depot and Target are also located in the immediate trade area.
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