$2.35 Million Secured in Refinancing for Multifamily Property in New Haven, CT
New Haven, CT – Abe Mann arranged a $2,350,000 loan for a valued client to refinance a multifamily building located at 90 Bristol Street, New Haven, CT.
The property was built in the 1900’s and contains 12 luxury apartments. The unit mix consists of two and three bedrooms that feature high end finishes such as hardwood floors, modern kitchens with granite counter tops and stainless steel appliances, as well as fully renovated bathrooms.
Located in the Dixwell neighborhood of New Haven, this property is within walking distance of Downtown New Haven, Yale University, Lanman Center and Broadway Street shopping and restaurants.
Abe secured the Non-Recourse financing with a regional bank who provided a 15 year term, 3.60% interest rate fixed for 5 years, 2 years Interest-Only followed by a 30 year amortization schedule. The borrower will use the loan proceeds to refinance their existing mortgage and cash-out on additional funds.
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