Closed Loans

$2.1 Million Refinance for Multifamily in Brooklyn, NY

Brad Domenico arranged a $2,100,000 loan to refinance a newly‐developed, four-story, brick multifamily building located at 1666 Dean Street in the Crown Heights neighborhood of Brooklyn, NY.

The development features eight (8) residential apartments with a unit mix comprised of six (6) one-bed/one‐bath units, (1) duplex unit, and (1) penthouse unit which both have their own private terrace and private access to their own rooftop deck and backyard. The building also offers a Common Roof Deck, fully upgraded units with high end finishes, upgraded appliances, in‐unit washer and dryer, microwave, hardwood floors, large bedrooms and living area, and more.

Situated in central Brooklyn, just 20 minutes from downtown Manhattan by train, Crown Heights garners a reputation for tree‐lined streets, historic homes, and a slow pace of living. Bordering Bedford Stuyvesant, Crown Heights lies east of Prospect Heights and north of Prospect Lefferts Gardens. The neighborhood’s population encompass a large number of families as well as young professionals and students, giving the area a friendly residential vibe. Relatively affordable rents and proximity to Prospect Park attract residents, as well as the area’s easy access to Manhattan and budding small business community.

Brad worked with Bethpage Federal Credit Union to negotiate the following key terms:

  • 625% Fixed for 5 Years
  • 30 Year Amortization
  • Non-Recourse

 

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

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