Spencer Savings Bank Provides $2.28M Loan For Mixed-Use Property In Ocean Hill, Brooklyn

Located at 2104 Fulton St. in Ocean Hill, Brooklyn, this mixed-use property recently underwent a closed transaction. The loan for this property was provided by Spencer Savings Bank. The loan amount was $2,280,000 with a term of 5 years and a 3.25% interest rate. The amortization period for the loan is 30 years, and the loan is non-recourse.

Summary of transaction details

• Property Type: Mixed-use
• Transaction Amount: $2,280,000
• Lender: Spencer Savings Bank
• Landlord: @KingsCapitalRE (George___Giannopoulos, Jeffrey Znaty, Thomas Giannopoulos, & Richard Wheeler)
• Broker: John Harrington - HKS

Kings Capital, represented by George___Giannopoulos, Jeffrey Znaty, Thomas Giannopoulos, and Richard Wheeler, served as the landlord in this transaction. The deal was facilitated by broker John Harrington from HKS. Kings Capital is actively seeking value-add, conversions, and redevelopment sites in the New York City metro markets. All opportunities can be submitted to [email protected].