Closed Loans

$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. 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
  • 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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