$3.5 Million Secured for Central Park North Multifamily Property
Abe Mann of Progress Capital arranged a $3,500,000 loan to refinance a 30-unit multifamily property located on Central Park North in Manhattan. The property was acquired in 1982 by its current owner, who has kept it beautifully well-maintained throughout. In 2017, many residential units and common areas were fully renovated with all new kitchens and bathrooms, new flooring and trim and high-end finishes.
Abe negotiated the permanent mortgage financing with a local Savings Bank with the following terms:
- 4.25% Fixed for 5 Years
- 2 Years Interest Only
- 30 Year Amortization
- 3-1-0 Prepay
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