PROGRESS CAPITAL | Brooklyn, NY – $2,500,000
18515
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Brooklyn, NY – $2,500,000

Category
Multi-Family
About This Project

$2.5M Secured in Brooklyn, NY Townhome Refinance

 

Brooklyn, NY – 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 leading Commercial Mortgage Brokerage Firm specializing in arranging debt for commercial real estate owners, operators and developers. Since 1990, Progress has successfully closed in excess of $40 Billion in commercial loans and directly funded over $150 Million.