FINANCED
Optimum Bank Provides $15.75M Refinance Loan For Bedford-Stuyvesant Hotel
1222 Atlantic Avenue
Hotel
Financed 160 days ago
Summary
Loan
NEW YORK
Hotel
The hotel property located at 1222 Atlantic Avenue in Bedford-Stuyvesant, Brooklyn, has recently undergone a refinancing transaction. The loan in the amount of $15,750,000 was provided by Optimum Bank. The landlord of the property is Abe Mendel. The brokers involved in the deal were Joshua Pollack and Dan Poleyeff from FM Capital.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $15,750,000
The hotel, with 102 rooms, is situated in Brooklyn, NY. The loan is a cash-out refinance with an out-of-state lender. It has a 30-year amortization period, with the first 12 months consisting of interest-only payments. The pre-payment penalty for the loan is 3, 2, 1.
For more information about this transaction, please contact Joshua Pollack at [email protected] or Dan Poleyeff at [email protected].
Players
Details
FINANCED
IMAGE: Joshua Pollack & Dan Poleyeff
DATE: 11/27/2023
ADDRESS: 1222 Atlantic Avenue
MARKET: Bedford-Stuyvesant, Brooklyn
ASSET TYPE: Hotel
LENDER: Optimum Bank (@Optimum_Bank)
LANDLORD: Abe Mendel
BROKERS: Joshua Pollack & Dan Poleyeff (@DanPoleyeff) - FM Capital
LOAN AMOUNT: $15,750,000
LOAN TYPE: Refinance
NOTE FROM BROKER: 🏨 Property Type: Hospitality (102 Rooms)
🌆 Location: Brooklyn, NY
💰 Loan Amount: $15,750,000
🔄 Cash-Out Refinance with Out-of-State Lender
📆 30-Year Amortization
💸 12 Months of Interest-Only
🔒 Pre-Payment Penalty: 3, 2, 1
For more information please contact Joshua Pollack at [email protected] OR Dan Poleyeff at [email protected]
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Address1222 Atlantic Avenue
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