PROGRESS CAPITAL | New York, NY – $3,500,000
18185
portfolio_page-template-default,single,single-portfolio_page,postid-18185,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

New York, NY – $3,500,000

Category
Multi-Family
About This Project

$3.5 Million Secured for Central Park North Multifamily Property

 

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:

 

  • 4.25% Fixed for 5 Years
  • 2 Years Interest Only
  • 30 Year Amortization
  • 3-1-0 Prepay
  • Non-Recourse

 

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.