$4.725 Million Acquisition Loan Secured for New York Multifamily Property
New York, NY – Brad Domenico, Partner of Progress Capital arranged a $4,725,000 loan for a valued client to acquire a low-rise walk-up multifamily building located at 125 West 138th Street in New York, New York.
The 5-story property is comprised of ten residential units including two duplex loft apartments, each containing 4-bedroom and 2 baths. Recent renovations include modern features such as high ceilings, dark hardwood floors, custom lighting, granite finished kitchens with stainless‐steel appliances and generously sized windows throughout. The building offers great amenities including a large furnished rooftop terrace, laundry room and video intercom.
This wonderful neighborhood sits on a very tranquil block right around the corner from Harlem Hospital, seconds from the 2/3 train and minutes to major highways. Amazing restaurants like Ponti Bistro and Harlem Nights are located on the same block, in addition to plenty of shopping nearby (BJs, Marshalls, Applebee’s and BestBuy is just a 5-minute drive away).
Brad worked with Valley National Bank to negotiate the following terms:
- 75% LTV
- 30 Year Amortization
Progress Capital is a commercial real estate advisory firm with over $40 Billion in closed loans and $150 Million of directly funded bridge loans. With over 30 years of experience, Progress continues to provide value to clients by securing the best financing options available in the market.