Cerberus Capital Management Provides $77.2M Loan For Mixed-Use Property In New Rochelle

Located at 585 North Avenue in New Rochelle, this mixed-use property with 114 units has undergone a recent transaction. The deal involved several key individuals and companies, including the lender, Cerberus Capital Management represented by Neha Santiago, and the landlords, Robert C. Young and Donna M. Young of Young Companies & Phil Craft. The brokers responsible for facilitating the transaction were Drew Fletcher, Matthew Klauer, and Jesse Kopecky of Greystone Capital Advisors. The property's loan amount was $77,200,000.

Summary of transaction details

• Property Type: Mixed-use
• Transaction Amount: $77,200,000
• Address: 585 North Avenue
• Market: New Rochelle
• Units: 114
• Lender: Cerberus Capital Management - Neha Santiago
• Landlords: Robert C. Young & Donna M. Young - Young Companies & Phil Craft
• Brokers: Drew Fletcher, Matthew Klauer, & Jesse Kopecky - Greystone Capital Advisors

This successful transaction exemplifies the thriving real estate market in New Rochelle. The collaboration between the lenders, landlords, and brokers played a significant role in facilitating the deal. With 114 units and a loan amount of $77,200,000, this mixed-use property offers a promising investment opportunity in the New Rochelle market.