Société Générale Lends $13.7M Loan For Mixed-Use Properties In Williamsburg And Philadelphia

The closed transaction involves a mixed-use property located at 176-178-180 Grand St., 190 West Berks St., 3421 Richmond St., 811-815 North 2nd St., and 1706 North 2nd St. in Williamsburg, Brooklyn & Philadelphia, PA. The property encompasses various types of spaces, combining residential and commercial units.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $13,730,000
• Date: 11/10/2020
• Market: Williamsburg, Brooklyn & Philadelphia, PA
• Lender: Société Générale
• Landlord: Viera Property Management
• Broker: Matthew Shatz - B6 Real Estate
• Terms: 10 Years, full term interest-only, cash out

The lending for this transaction was provided by Société Générale, a prominent financial institution. Viera Property Management is the landlord overseeing the property. Matthew Shatz, representing B6 Real Estate, acted as the broker in this deal. The loan amount of $13,730,000 was agreed upon, with the terms set for a 10-year period, offering full-term interest-only payments and a cash-out option.