An acquisition loan was secured for a commercial condominium located at 15-05 132nd Street, College Point, NY. The transaction amount was $1,850,000, and the loan amount was $1,550,000. The asset type is industrial, covering a square footage of 6,400. The financing provided by NewBank includes 85% loan-to-value (LTV) and has a term of 25 years, fully amortized.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $1,850,000
• Loan Amount: $1,550,000
• Loan Type: Acquisition
• Loan Terms: 25 Years
• Lender: Matthew Kang - NewBank USA
• Landlord: SecureCom Group - Brian McLaughlin
• Broker: Mercedes Santana - Santana Property Group
• Mortgage Broker: Guadalupe Phu - Heartland Mortgage

Matthew Kang served as the loan officer for this transaction, while Guadalupe Phu acted as the mortgage broker, facilitating the financing details. Mercedes Santana represented the interests of Santana Property Group in the transaction, ensuring the process progressed smoothly for the involved parties.