Shiye Weiss Secures $20.2M Refinance Loan From Amalgamated Bank For Brooklyn Mixed-Use Property
$20,200,000
$280/SF
Building Size
72,000 SF
Asset Type
Mixed-use
Closing
Aug 25, 2026
About this deal
AI
The property asset involved in this transaction is a mixed-use building located in Brooklyn, comprising a total of 72,000 square feet and 65 units, which includes 5 commercial and 60 residential units. The loan associated with this asset has a total amount of $20,200,000, classified as a refinance with specific loan terms of 3 years, a 6.23% interest rate, a 1-year interest-only period, and a stepdown prepayment penalty.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $20,200,000
- Market: Brooklyn
- Lender: Amalgamated Bank
- Borrower: Shiye Weiss
- Brokers: Michael Helmreich, Jake Gluck & Asher Spingarn - Fortune Capital Group
- Loan Type: Refinance
- Loan Terms: 3 Years, 6.23% Rate, 1 Year IO, Stepdown PPP
The key individuals involved in this transaction include the borrower, Shiye Weiss, and the brokers representing the deal, which are Michael Helmreich, Jake Gluck, and Asher Spingarn from Fortune Capital Group. For financing needs, interested parties can reach out to Michael Helmreich at 973-986-5954 or via email at [email protected].
Players
Market Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.79%
Cash-on-Cash
-0.22%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93