$4,450,000 Million Secured in Refinancing for Unique 1900’s Mixed-Use Building in Manhattan
Manhattan, NY – Brad Domenico arranged a $4,450,000 loan for a valued client to refinance a Mixed-Use building located at 534 East 14th Street, Manhattan, NY.
The 5-story property is 7,246 SF with approximately 3,705 SF of air rights. The building is made up of 15 residential units (14 studios, 1 one-bedroom), 2 ground floor retail units and a cell tower. Recent renovations to the building include a new hallway and lobby, as well as new hardwood floors, Cherrywood kitchen cabinets with stainless steel appliances for the residential units.
Alphabet City, located within the East Village of Manhattan is one of many neighborhoods in New York to experience gentrification in the 1990s. The property’s location is just four blocks away from both Union Square and Thompkins Square Park with easy access to the MTA bus stop, L train and an assortment of shops and restaurants.
Brad worked with PCSB Bank to negotiate the most favorable terms on behalf of the client.
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