$2.5M Secured in Brooklyn, NY Townhome Refinance

Abe Mann of Progress Capital arranged a $2,500,000 loan to refinance a luxury townhome property located in the desirable Clinton Hill neighborhood of Brooklyn, NY.

Mann negotiated the permanent mortgage financing with the following terms:

• 3.75% Fixed for 7 Years
• 7 Years Interest Only
• No Prepay Penalty
• No Bank Fees
• $500,000 in Cash-Out Proceeds

This one-of-a-kind townhome designed by noted architects, R.H. Robertson and A.J. Manning and built in 1901, is an architectural masterpiece. It is recognized for its land-marked Romanesque-Revival façade, detailed masonry work and beautiful stained glass and semi-circular arched windows.

The five-story corner property, encompasses 7 bedrooms and 7 bathrooms, completely renovated to the highest standard. The 6,000 SF townhome boasts 11′ ceilings, new oak hardwood floors and custom molding throughout. A winding staircase leads to the upper levels and include a full floor master suite complete with a library, gas fireplace and private terrace.

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