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2021 Top Mortgage Brokers and Lenders
New York & Tri-State
Steven Rock
$80 million
Joined Westchester office of Marcus & Millichap Capital Corp. in 2009
Has won company awards in multiple years, including 2020
Steven Rock joined the Westchester office of Marcus & Millichap Capital Corp. (MMCC) in July 2009 and has won multiple company awards since then. During 2020, Rock closed 14 financing transactions totaling $80 million.
In one of the year’s more challenging transactions, the borrower needed to pay off an existing lender quickly. There were many vacancies due to the pandemic and therefore not enough cash flow from the property to cover the existing debt service of the loan. Rock’s solution was to obtain a larger short-term bridge loan which was interest only at 4.25%. It paid off the existing lender and provided more cash flow for the borrower to pay the loan and lease up the property to further stabilize.
“This deal had a big impact in the local Brooklyn real estate market because many other properties were experiencing the same COVID issues and I was contacted by other owners and buyers to analyze their deals too,” Rock says. “My unique experience and skills allowed me to underwrite the financials and use my lender relationships to secure the most attractive loan terms and the borrower was very happy with the results.”
These are some of the reasons we selected Rock for inclusion in our first-ever Top Mortgage Brokers and Lenders Awards. These awards recognize industry professionals who have demonstrated the highest standards in commercial real estate finance.