Who We Are
About the Barrett Capital Group
The Barrett Capital Group provides lending, leasing and advisory services. A specialty finance company, Barrett Capital provides commercial and multi-family real estate and corporate financing with an emphasis on asset-based funding of energy efficiency projects for our own account, Property Assessed Clean Energy (“PACE”) financing and, a marketing focus on cooperative corporations and condominium associations.
Some people read novels, we read balance sheets. Our clients use us to:
- Determine what type of financing is required,
- Know the financial institutions able to provide the appropriate financing,
- Execute on this expertise and find the money for the client.
- Save clients’ money through Barrett Capital unsecured project financing.
In addition to cooperative corporation underlying mortgages and condominium association loans, Barrett Capital specializes in electric, solar, fuel, gas and water saving conservation projects, such as LED lighting retrofits, Combined Heat & Power (CHP or Cogeneration), steam to gas conversions and renewable energy such as solar. Barrett Capital is a representative for PACE Equity, a direct PACE lender offering low long-term fixed rate property assessed clean energy (PACE) loans. PACE Equity is an innovative commercial real estate finance firm that is a leader in the direct financing of Property Assessed Clean Energy (PACE) Loans. PACE Equity is a one stop, turnkey, provider offering engineering, approvals and 20 to 25-year terms for financing utility, water or renewable items having a positive impact on the building. And, these non-recourse fundings are paid back through an addition to the real estate tax bill.
Barrett Capital recognizes that being selected as your lender/financial advisor/broker is just the start of the process. And, even after we have secured the best terms and conditions for your needs, we consider our work for you only half done. Going from Term Sheet to Funding takes effort, which the Barrett Capital team provides. Our CEO having served as the President of a 200-unit Manhattan Luxury Condominium understands your – the owner’s – perspective. We are available 24/7 to meet the needs of our clients on your timeframe.
From our experience, bankers don’t always know how to speak to borrowers and borrowers benefit from having an experienced, independent representative answer the banker’s questions. The Barrett Capital team, as your intermediary, is skilled at presenting the facts in a way that will resonate with the banker and achieve your goals.
Barrett Capital Corporation, a licensed real estate broker in the State of New York, is qualified to assist you in negotiating mortgages. During the 30 plus years we have been in business, Barrett Capital has never failed to deliver on a commitment issued or arranged.
Barrett Capital was founded by Barry Korn in 1986 to provide lease financing of IBM mainframe computer systems and peripheral equipment to small, middle market and large corporations. Barrett Capital successfully provided both operating and full payout lease financing of over $100 million of equipment. When Barrett Capital reached the conclusion that residual values were declining too rapidly and, as a result, computer leasing was becoming too risky, Barrett Capital switched to leasing general equipment and vehicles. Barrett Capital built up a significant portfolio of vehicle leases, which included vehicles from the acquisition of some 7 vehicle leasing operations. In the course of its vehicle leasing business, Barrett Capital developed a niche financing limousines and car service vans and sedans. When the economy tanked in 1989-90, Barrett Capital began to release and sell all of its vehicles.
While Barry Korn always wanted to get into real estate finance, given the prior strong economy, Barrett Capital could not find an entry point. However, following the disposition of its vehicle leasing operations, and given a weak economy, Barrett Capital was able to create an opportunity to provide Real Estate financing to Cooperative Corporations and Condominium Associations, which has been our specialty since. Shortly after Barry Korn sold his house in Westchester County, NY and moved to Manhattan, he joined the Board and became President of his 200-unit Condominium Association, for which he served some 17 years before retiring from those positions. Given his position of running a large 330,000 sq. ft. building and, focusing on understanding the operating aspects of his Condo and the buildings Barrett Capital financed, we came to appreciate, then enter, in 2011, the field of financing energy efficiency and renewable energy projects, which we continue to do for Barrett Capital’s account and others. Our providing PACE financing is but the latest example.
To provide convenient, trusted, personal service and advice and, creative financing solutions that result in fundings for our clients.
To provide creative debt, energy efficiency and renewable energy financing solutions to real estate undertakings and commercial enterprises that will create a better everyday life for the residents of the buildings and employees of the companies we finance. And, we strive to offer the best personal service and financing experience. “Think Outside the Bank” for “More Bank for the Buck”.