PROGRESS CAPITAL | Brooklyn, NY – $2,700,000
18531
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Brooklyn, NY – $2,700,000

Category
Multi-Family, Retail
About This Project

$2.7 Million Secured in Acquisition of Mixed Use Property in Brooklyn, NY

 

Brooklyn, NY – Brad Domenico, Managing Partner at Progress Capital, negotiated a $2,700,000 permanent mortgage loan for a valued client to acquire a mixed-use building located at 2400 Cambreleng Avenue in Bronx, NY.

 

The five (5)-story property consists of three (3) commercial units and seventeen (17) residential units. The commercial unit mix is comprised of a deli, mobile phone store, and a hair salon. The residential unit mix of the building contains seven (7) one-bedroom units and ten (10) two-bedroom units. The building is ideally located within the Belmont neighborhood of West Bronx close to public transportation, various shops, restaurants, grocery stores and more.

 

Brad negotiated the loan to include the following key terms:

  • 25% Fixed for 5 Years
  • 30 Year Amortization
  • 71% LTV

 

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 directly funded over $150 Million.


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