Island Federal Credit Union Provides $3.95M Acquisition Loan For Mixed-Use Property In Brooklyn

A mixed-use property located at 787 Franklin Avenue in Brooklyn has been involved in a recent loan transaction. The property consists of 6 units and spans across 5,994 square feet. The transaction took place on April 20, 2023.

Summary of transaction details

• Property Type: Mixed-Use
• Address: 787 Franklin Avenue
• Market: Brooklyn
• Units: 6
• Square Footage: 5,994
• Lender: Island Federal Credit Union
• Broker: Eddie Miro - Progress Capital
• Loan Amount: $3,950,000
• Loan Type: Acquisition

Eddie Miro, representing Progress Capital, served as the broker in this loan transaction. Island Federal Credit Union provided a loan amount of $3,950,000 for the acquisition of the mixed-use property at 787 Franklin Avenue in Brooklyn.