Tax-Exempt Financing for the Browning School

ThinkForward Financial successfully placed $10 million in tax-exempt financing for the Browning School to finance the renovation and expansion of the School's main facilities at 52 East 62nd Street. In its capacity as advisor on the transaction, the ThinkForward team managed all of the issuer application and approval processes, the tax analysis on the bonds, the financial projections, and the closing process, minimizing processing time and closing costs.

The Browning School is a not-for-profit private preparatory school for boys. The renovation and expansion of the School will include a lower level expansion to accommodate a new cafeteria, an upgraded lobby, library, technology center, science lab and art studio. The renovation and expansion project is anticipated to be completed by August 2014.

Build NYC Corporation, which issued the bonds, is a critical resource for City’s non-profits looking to reduce borrowing costs, finance new expansion projects and refinance existing debt.

For more information on the Browning School financing and/or Build NYC bond programs, please contact Sunil K. Aggarwal at sunil@thinkforwardfinancial.com or 917 877 2600.

“ThinkForward procured a lender that provided us both a lower financing rate and far better terms than any other lender we had spoken with, including no requirement for a mortgage on our loan. Furthermore, the ThinkForward team assisted us at every step of the process, including issuer applications, tax documentation, cash flow analyses and closing documentation – all of which saved us both time and legal fees. The transaction was completed quickly, efficiently and professionally, and we’re very pleased with the outcome.”

John Campbell, Chief Financial Officer
The Browning School