Dime Community Bank Provides $13.5M Purchase Loan For Mixed-use Property At 257 Water Street In Financial District

Located in the Financial District at 257 Water Street, this mixed-use property was involved in a closed transaction on January 25, 2022. The property is owned by Julian Kiguel and was financed by a loan from Dime Community Bank. The transaction was facilitated by Charles Grussgott and Michael Helmreich from Meridian Capital Group.

Summary of transaction details

• Property Type: Mixed-use
• Transaction Amount: $13,500,000
• Loan Type: Purchase Loan
• Loan Terms: Term: 5 + 5 Years, Rate: 2.75%, Amort: 2 Years IO then 30 Years
• Lender: Dime Community Bank
• Landlord: Julian Kiguel
• Brokers: Charles Grussgott & Michael Helmreich - Meridian Capital Group

Julian Kiguel, the landlord of the property, secured a loan of $13,500,000 from Dime Community Bank for the purchase of this mixed-use property. The loan has a term of 5 + 5 years and a fixed interest rate of 2.75%. The amortization period includes 2 years of interest-only payments, followed by 30 years of regular payments. Charles Grussgott and Michael Helmreich from Meridian Capital Group played a crucial role as brokers in facilitating the deal.