PROGRESS CAPITAL | Brooklyn, NY – $5,900,000
18539
portfolio_page-template-default,single,single-portfolio_page,postid-18539,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 – $5,900,000

Category
Multi-Family
About This Project

Progress Capital Negotiates Five Loans for One Client’s Brooklyn Condo Portfolio

 

Brooklyn, NY – Brad Domenico, Partner at Progress Capital, secured $5,900,000 for a valued client to refinance five (5) condo buildings in Brooklyn, NY. The five (5) properties contain a combined total of 10 residential condo units and 3 commercial condo units. All buildings are proximate to transportation, local shopping and employment centers.

 

Brad worked with Cathay Bank to negotiate the following key terms:

  • Non-Recourse
  • 30 Year Amortization
  • 50% LTV
  • 2.35% over 5 YR UST

 

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.