$2.9 Million Secured for Brooklyn, NY Multifamily Property

Brad Domenico negotiated $2,961,000 for a valued client to acquire a multifamily property located at 913 St. Marks Ave in the Crown Heights section of Brooklyn, NY.

The 4-story property contains 4 residential apartment units and sits on a 2,164 SF lot. The building was built in 1931 and consists of 5,840 SF of living space that will undergo a complete renovation.

This conveniently located low-rise is a few blocks from public transportation, including Nostrand Avenue, Kingston Avenue and Utica Avenue subway stations.  Brower Park, Brooklyn Children’s Museum and various shopping is also in close proximity.

Brad worked with Valley National Bank to provide the following key terms:

• 75% LTV
• 30 Year Amortization
• No Bank Fees

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