Abe Mann Secures $6.5 Million Refinance for SoHo Mixed-Use Property
Manhattan, NY – Abe Mann, VP of Progress Capital, secured $6,500,000 for a valued client to refinance a 12,500 square foot mixed-use property located at 508 Broadway in the SoHo area of Manhattan.
The property was built in 1910 and consists of 4 residential units and one commercial space located on the ground floor. The residential units are zoned as live-work lofts for artists and are configured as spacious open plan bedrooms/offices featuring an open kitchen, dishwasher and in-home washer/dryer.
With a fire escape adorning the exterior and an intricate cornice topping the building, 508 Broadway has a distinct charm that makes it stand out in a neighborhood of beautiful buildings. Soho is a prime area of New York with a great deal of foot traffic as it is near many shops, subways and a CitiBike kiosk.
Abe Mann worked with Steven Esses of FM Home Loans and negotiated the most favorable terms with Axos Bank.
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, we continually prove our value to our clients by securing the best financing options available in the market.