New York, NY– Brad Domenico arranged a $20,400,000 permanent mortgage loan for the refinance of a luxury mixed-use building located at 4469 Broadway in New York, NY.
The 8-story building is comprised of 86 total rental units (34 studios, 39 one-bedrooms, and 13 two-bedrooms). Seven of the residential units have a generous terrace, while all of the units feature custom cabinets, stone granite counters, professional stainless-steel appliances, central air, and oversized windows. The property also features various amenities such as a fitness center, on site and indoor parking, and a large inviting lobby. The first-floor retail tenant is Dollar Tree, second floor has long term lease for Daycare with Columbia University and the basement has long term lease with attendant parking.
Located in the Fort George neighborhood of New York, NY, the property is conveniently located within walking distance of the M-train and bus stops. It is also located off of Route 9 which extends 325 miles from the George Washington Bridge in Manhattan to Interstate 87 just south of the Canada U.S. border.
Brad worked with Freddie Mac and negotiated a 12-year fixed rate with full term IO.
Progress Capital is a leading Commercial Mortgage Banking firm specializing in arranging debt for commercial real estate owners and developers. Since 1990, Progress has successfully closed in excess of $40 Billion in commercial loans and directly funded over $150 Million.