Closed Loans

$3.1 Million Secured for Brooklyn Multifamily Property

Brooklyn, NY – Brad Domenico arranged $3,100,000 for the acquisition of a multifamily property located at 31 Monroe Place in Brooklyn, NY.

The 5-story multifamily building consists of 9 apartment units containing a mix of 7 one-bedroom/one- bath units, 1 studio and 1 two-bed/two-bath unit with a private garden. All units have recently been newly modernized to include stainless steel appliances, granite countertops, George Nelson pendant lighting, hardwood floors, and high ceilings. The upper floors provide breathtaking views of New York City which adds to the overall aesthetic and elegance of the property.

The property is located on one of the most desirable blocks in Brooklyn Heights, conveniently located just two blocks away from a major transportation hub. It is also centered around an abundance of restaurants, retail stores, theaters, convenience stores, supermarkets, post offices, banks, and local parks. The famed Brooklyn Bridge is also just a short 10-minute walk from the property and leads directly into the heart of Manhattan. Also found in the surrounding area is the Brooklyn Heights Promenade which is situated just a few blocks from the subject.

Brad worked with Lakeland Bank to negotiate a 2 Year Interest-Only period with a 1 Year Extension Option.

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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