Union Savings Bank Provides $2.5M Refinance Loan For 23-Unit Multifamily In New Haven, CT

The property involved in this transaction is a multifamily asset located at 471 Whalley Avenue in New Haven, CT. It has a total square footage of 25,000 and consists of 23 units. The landlord of the property is Avi Meer.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $2,543,000
• Address: 471 Whalley Avenue, New Haven, CT
• Market: New Haven, CT
• Units: 23

The lender for this transaction is Union Savings Bank. The loan amount is $2,543,000, and it is a refinance loan. The loan terms include a 70% loan-to-value ratio, a fixed interest rate of 5.50% for 5 years, a 1-year interest-only period, and a prepayment penalty of 321.

The broker representing the deal is Abe Mann from Mann Capital.