LMF Commercial Provides $4.375M CMBS Loan For Mixed-Use Property In Park Slope

A mixed-use property located at 57 4th Avenue in Park Slope has been involved in a recent loan transaction. The loan was secured from LMF Commercial, a subsidiary of Lennar Co., with Nihad Choudhury acting as the lender representative. The loan amount was $4,375,000, and it was structured with CMBS terms, featuring a 10-year fixed term with a 5-year interest-only period.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $4,375,000
• Asset Type: Mixed-use
• Date: 12/22/2020
• Address: 57 4th Avenue
• Market: Park Slope

In addition to the lender, Conway Capital, represented by Abe Cohen, is the landlord of the property. The broker involved in the deal is Jonathan Singer from Strategic Funding Corp.