$3.35 Million Secured for Refinance of New York, NY Mixed-Use Property
Brad Domenico, Partner of Progress Capital negotiated a $3,350,000 permanent mortgage loan for a mixed-use property located at 324 East 73rd Street in Manhattan. The property is improved with a 5-story, walk up on a 2,554 SF site, built in 1910. The building contains a total of 18 residential units and 2 retail units. The unit mix of the subject property includes 5 studio units, 4 one-bedroom units and 9 two-bedroom units.
Brad worked with Red Capital Markets LLC to provide the following key terms:
- 4.5% Fixed for 10 Years
- 5 Years Interest Only
- 30 Year Amortization
- 55% LTV
- Non-Recourse
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
