Progress Capital Secures Arranges Refinancing Loan for Brooklyn Mixed-Use Property
Abe Mann and Evan Boles secured a bridge loan for a client to refinance 567 Nostrand Avenue located in Brooklyn, NY. Hirschmark Capital provided the financing, accompanied by favorable loan terms and certainty of execution.
The property contains a 3-story 5-unit mixed-use building that was built in 1931. Nostrand Avenue is situated in the Crown Heights neighborhood and considered the north-south artery, where several bus and train lines meet. The avenue boasts a wave of dynamic and diverse restaurants, including The Breukelen, Colina Cuervo and Two Saints–and even the luxury hotel, The Brooklyn.
Since 1990, Progress Capital has closed over $40 Billion in commercial loans and $150 Million in directly funded bridge loans. As a commercial real estate advisory firm, we can advise you on any real estate investment you are considering and provide the financing advice you need to manage through the commercial real estate acquisition and/or financing process. We consistently get our clients to the closing table… plain and simple!