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How A $26MILLION Deal Was Saved
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Jonathan Landau - CEO at Landau Properties, shares what happened when a deal threatened to collapse. Hear more from Jonathan on his episode of Jewish Grit - https://youtu.be/MQ6RuK54QRg?si=5XcTcY8yZK4ew9Z_
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Auto-generated transcript. Not time-synced to the video.
at the last minute, our lender pulled
out. I had $26 million hard money up at
that point in time
that is at risk. And I was I was
obviously dejected. I was not willing It
was It was right before Shabbos,
actually. And to me, Shabbos is one of
those days where business has to be 100%
outside of your mind, and you have to
enjoy this special moment of your family
and your friends and the time to sort of
shut off from the rest of the world.
And
I knew that there wasn't anything I was
going to do in the next 24 hours, so
I was like, "Okay, I'm just going to
enjoy Shabbos, and we're going to deal
with this on Saturday night or Sunday."
The bottom line is that within three or
four days, we ended up with a
replacement lender. Um
and uh you know,
>> [snorts]
>> it was it was a different deal
um than the deal that I had envisioned
closing, but ultimately
it worked out and probably worked out
better than what what the original loan
would have looked like.