Deutsche Bank Provides $14.5M Refinance Loan For Mixed-Use Property In Brooklyn

The property located at 738-742, 752, 758, 804, 820 & 850 Nostrand Avenue in Brooklyn is a mixed-use asset spanning 36,284 square feet. The property was subject to a refinancing deal with a loan amount of $14,500,000 provided by Deutsche Bank. The landlord of the property is David Bowen, and the deal was facilitated by brokers Brian Anderson and Eddie Miro from Progress Capital. The loan terms included a fixed rate of 6.65% for 5 years.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $14,500,000
• Address: 738-742, 752, 758, 804, 820 & 850 Nostrand Avenue, Brooklyn
• Market: Brooklyn
• Loan Type: Refinance
• Loan Terms: 6.65% Fixed for 5-Years

Brian Anderson and Eddie Miro from Progress Capital played crucial roles as brokers in the transaction, representing the parties involved in the refinancing deal. Notably, Deutsche Bank provided the substantial loan amount, showcasing confidence in the property's potential and market value as a mixed-use asset in Brooklyn.