Flushing Savings Bank Provides $1.65M Refinance Loan On Harlem Mixed-Use Property

Located in the vibrant neighborhood of Harlem, the mixed-use property at 2169 Third Avenue has recently undergone a refinancing transaction. The property spans 5,000 square feet and offers a versatile space for commercial and residential purposes. With its prime location and diverse potential, the property attracted the attention of both buyers and lenders.

Summary of transaction details

• Property Type: Mixed-use
• Transaction Amount: $1,650,000
• Market: Harlem
• Address: 2169 Third Avenue
• Loan Type: Refinance

The loan for this transaction was secured from Flushing Savings Bank. With a loan amount of $1,650,000, the terms of the loan were set at 10/25, with an annual interest rate of 3.30%. The loan-to-value ratio (LTV) stood at 75%, providing a favorable financing structure for the property owner. Facilitating the deal was Alex Dobosh of HKS Real Estate Advisors, serving as the broker representative for the transaction.