Rodney Asrad Secures $3.6 Million Refinance Loan For Mixed-Use Property In Brooklyn

This transaction involves a mixed-use property located at 131 6th Avenue, Brooklyn. The asset encompasses a total square footage of 6,450 and includes 3 units. The property is partially owner-occupied, and the transaction was executed as a refinance to address a Bridge loan.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $3,600,000
• Loan Type: Refinance
• Loan Terms: 5 Year Fixed, with 5 Year extension, 6.5% Rate, 30 Year Amortization
• Landlord: Rodney Asrad
• Brokers: Russell Nova & Igor Zakh - Cornerstone Capital Financing

The brokers Russell Nova and Igor Zakh from Cornerstone Capital Financing facilitated the transaction, emphasizing their ability to structure and underwrite loan scenarios tailored to the specific needs of owners and operators. This loan was designed to provide a long-term conventional financing option for the property owner.