Santander Provides $8.7 Million Refinance Loan For Mixed-use Asset In East Village

The property at 159 1st Avenue, situated in the East Village, Manhattan, is a mixed-use asset comprising a total of 34 units, which includes 4 commercial spaces and 30 residential apartments. The property secured a refinancing loan amounting to $8,700,000 with a loan term of 5 years at an interest rate of 5.75%.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $8,700,000
• Address: 159 1st Avenue
• Market: East Village, Manhattan
• Units: 34 (4 Commercial & 30 Residential)
• Lender: Santander
• Loan Type: Refinance
• Loan Terms: 5 years deal, 5.75%
• Broker Representatives: Bryan Geffen & Joshua Lerer - Meridian Capital Group

In this transaction, Bryan Geffen and Joshua Lerer from Meridian Capital Group represented the refinancing process, working on behalf of the property owner to secure favorable loan terms through Santander.