PROGRESS CAPITAL | Brooklyn, NY – $1,600,000
17820
portfolio_page-template-default,single,single-portfolio_page,postid-17820,ajax_fade,page_not_loaded,,qode-child-theme-ver-1.0.0,qode-theme-ver-2.7,wpb-js-composer js-comp-ver-5.4.7,vc_responsive

Brooklyn, NY – $1,600,000

Category
Multi-Family
About This Project

 

Brooklyn Multifamily Refinance Secures 10-Year Fixed-Rate at 4.40%

 

Brooklyn, NY – In a rising rate environment working with a commercial mortgage broker has become almost essential to secure the best market rates. On behalf of his client, Abe Mann secured a low 4.40% interest-rate fixed for 10-years to refinance the multifamily property at 335 18th Street in Brooklyn. The subject property is a 3-story walk-up with 6 residential units.

 

Negotiating a $1,600,000 permanent mortgage allowed the client to retire the existing debt on the property and recapture a significant amount of invested equity to fuel continued real estate acquisitions adding to an already robust portfolio.

 

The loan is accompanied by a 10-year term and 30-year amortization. In addition, the borrower may repay the loan at any time without penalty.

 

Progress Capital is a leading Commercial Mortgage Banking firm specializing in arranging debt for commercial real estate owners and residential developers. Since 1990, Progress has successfully closed in excess of $40 Billion in commercial loans and deployed over $150 Million through their direct lending platform.

 

We Get You to the Closing Table – Plain and Simple – #thatsPROGRESS.


CONTINUED READING:


View Press Release

View Article on MENAFN.COM
$86 Million Secured for Construction of UES Community Center

$26,250,000 Negotiated for Construction of Multifamily Building at Former Fairmount Hospital in Jersey City

$15,000,000 Line of Credit Arranged for NJ Multifamily Acquisitions

$2,300,000 Funded by Progress Direct for Acquisition of Vacant Jersey City Gas Station

$36 Million Negotiated in Refinance of Two NY Storage Fox Facilities

consultheader