Point Willis Partners LLC Secures $3.75M Refinance From M.Y. Safra Bank For Mixed-Use Property

The property asset involved in the transaction is a mixed-use building located at 237 Willis Avenue in the South Bronx. It encompasses a total square footage of 11,640 and includes 8 residential units. The property has undergone a comprehensive rehabilitation, which includes the renovation and leasing of the commercial units.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $3,750,000
• Loan Type: Refinance
• Loan Terms: 5 years
• Lender: M.Y. Safra Bank
• Landlord: Point Willis Partners LLC - Bradley Zar
• Landlord's Representative: Timour Shafran
• Original Purchase Price: $3,860,000
• Recent Appraisal Value: $5,800,000
• Commercial Units: 3
• Residential Apartments: 8

Timour Shafran represents the landlord, Point Willis Partners LLC, in this refinancing deal. The landlord's note indicates a successful three-year tenure with substantial improvements made to the asset and plans to pursue additional acquisition opportunities in the South Bronx market.