Refinance a commercial building with overbuild

[Erik Reisner]

Have a refi coming up on 180,000 sq ft building. (2 floors commercial, with 53 apartments above). Already have zoning for an overbuild on top of the 5th story which would add 30-40 apartments. Current loan matures in August and rates are low, but most lenders would not factor in the addition income from the additional units because the construction would be completed 1-2 years after new loan created. Any thoughts on this situation? Open to answering more questions. Thanks