Conway Capital Refinances Park Slope & Prospect Park Multifamily With $6.3M Loan From LMF Commercial | 350 5th Street, Brooklyn, New York And 372 Baltic Street, Brooklyn, New York | LMF Commercial | Robert Tobias | MultiFamily | Loan

Summary

Loan

NATIONAL

MultiFamily

13,080 sqft

Conway Capital has recently secured a $6,300,000 refinance loan for a multifamily property located at 350 5th Street & 372 Baltic Street in Park Slope & Prospect Park. The property spans a total square footage of 13,080 and consists of 16 units. The loan has been provided by LMF Commercial, with Nihad Choudhury serving as the lender's representative.

Summary of transaction details:

Property Type: Multifamily
Transaction Amount: $6,300,000
Address: 350 5th Street & 372 Baltic Street
Market: Park Slope & Prospect Park
Square Footage: 13,080
Units: 16

The deal was facilitated by broker Robert Tobias, who represented Conway Capital in securing the loan. This refinance transaction involves CMBS financing with a 10-year full interest-only repayment term and a loan-to-cost ratio (LTC) of 78%.

Players

All
3

Agents
1
Agencies
1
Lenders
1

Details

Deal Summary

FINANCED

IMAGE: Nihad Choudhury, Abe Cohen & Robert Tobias DATE: 03/03/2023 ADDRESS: 350 5th Street & 372 Baltic Street MARKET: Park Slope & Prospect Park ASSET TYPE: Multifamily ~ SF: 13,080 ~ UNITS: 16 LANDLORD: Conway Capital - Abe Cohen (@Abe_R_Cohen) LENDER: LMF Commercial - Nihad Choudhury (@NihadChy) BROKER: Robert Tobias LOAN AMOUNT: $6,300,000 LOAN TYPE: Refinance LOAN TERMS: CMBS: 10-year full IO, 78% LTC

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Address350 5th Street, Brooklyn, New York And 372 Baltic Street, Brooklyn, New York

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