New York, NY – Abe Mann of Progress Capital arranged a $3,500,000 loan to refinance a 30-unit multifamily property located on Central Park North in Manhattan. The property was acquired in 1982 by its current owner, who has kept it beautifully well-maintained throughout. In 2017, many residential units and common areas were fully renovated with all new kitchens and bathrooms, new flooring and trim and high-end finishes.
Abe negotiated the permanent mortgage financing with a local Savings Bank with the following terms:
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.