$1.5 Million Refinance Arranged for Multifamily Property in Manhattan, NY
Abe Mann, Vice President at Progress Capital, arranged a $1,500,000 loan to refinance a 4-unit multifamily property located in the Hamilton Heights neighborhood in Manhattan, NY.
Built in 1899, the 3-story townhouse is conveniently located just a block away from the A, B, C and D trains and close to many shops and eateries. Each unit within features high ceilings, an abundance of natural sunlight, exposed brick, new stainless-steel appliances, tiled bathrooms and beautiful hardwood floors.
Abe and the Progress Capital team were instrumental in a smooth underwriting and closing process. They worked with Silver Hill Funding, LLC who funded in only 6 weeks and achieved the following key terms:
- 6.625% Fixed for 5 Years
- 30 Year Term
- 30 Year Amortization
- 65% LTV
- No Bank Fees
- 3,2,1,0 Prepayment Plan
Progress Capital is a commercial real estate advisory company serving clients since 1990. With over $40 Billion in closed loans and $150 Million of directly funded bridge loans, we will get you to the closing table… Plain and Simple. #thatsProgress