Need help closing the deal

[Zulu Black]

Hey y'all,

I'm looking to close on my first commercial property in NYC and I'm hitting some roadblocks. Because this is my first commercial property, the lender views me as "high risk". They are requesting that I put a year worth of P&I ($60k) into escrow upfront. They will automatically deduct my mortgage from that account during the first year. That means I need to put additional capital into this deal. Capital that I currently don't have. I spoke with the seller and they agreed to "loan" me that money at 7% rate, pay back in 12 months. The property cash flows enough for me to afford this. My question is how should I approach getting this loan from the seller before I close on this?

Purchase Price: $1,000,000

Downpayment (35%): $350,000

Closing Cost (8%): $80,000

Rates: 8.5%