Progress Capital Closes $6 Million Refi for Brooklyn Apartment Development
Progress Capital’s Founding Partner, Kathy Anderson arranged a $6,000,000 permanent mortgage to retire a construction loan for 625 Halsey Street.
Northfield Bank provided a 3.73%, 10-year fixed-rate.
The owner acquired the site, completed construction and fully stabilized all 20 units. The property contains a mix of hi-end residential apartments including (2) duplex units, (12) one‐bedroom units and (4) two‐bedroom units.
As one of Brooklyn’s most eclectic neighborhoods, Stuyvesant Heights is an urban community that boasts diversity, an abundance of mass transit and historic charm. The prime location of the properties makes them a walker’s paradise featuring nearby retail shops, restaurants, parks and trains A, C and J.
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. We get you to the closing table…Plain and Simple.