Spring Bank Provides $10 Million Refinance Loan For Hotel At 437 Union Avenue Brooklyn

The property involved in this transaction is a hotel located at 437 Union Avenue in Brooklyn. The asset has secured a refinance loan amounting to $10,000,000. Currently, the property is occupied by the City of New York under an emergency housing program.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $10,000,000
• Lender: Spring Bank
• Broker: Anudeep Gosal - Besen Partners
• Loan Type: Refinance

Anudeep Gosal represents the broker's role in the transaction through Besen Partners. Besen Hotel Advisory Group offers specialized services in capital markets, investment sales, and strategic advisory within the hospitality sector, with notable expertise in New York City hotel transactions. The team focuses on financing government-backed contracts and special situation assets.