Bronx, NY – Working on behalf of Webster Ice, LLC, Brad Domenico negotiated a $3,840,00 non-recourse permanent mortgage loan for the acquisition of 2 Multifamily Buildings at 2408 and 2420 Webster Avenue in The Bronx. The properties are both 4-story brick walk-up buildings each with 8 residential units. Each building is comprised of (4) 3-bedroom units and (4) 4-bedroom units.
Domenico secured an 80% Loan to Purchase Price with 3.99% rate, fixed for 10-years. The loan is accompanied by a 36-month interest-only period with a 10-year term amortized over 30-years. The loan may be prepayed at anytime subject to a 5,5,4,4,3,3,2,2,1 schedule.
Progress Capital is a Commercial Real Estate Mortgage Brokerage Firm specializing in arranging debt for commercial real estate owners and developers of mixed-use, multifamily, construction, industrial, retail, office and commercial storage properties. With an unrivaled network of lending partners and capital market relationships we have arranged over $40 Billion in Transactions and Directly Funded over $150 Million.
We get you to the closing table – plain and simple… #thatsPROGRESS