Peak Capital Secures $3.325 Million Refinance Loan From Provident Bank For Park Slope Asset

The asset involved in the transaction is a mixed-use property located at 51 Fifth Avenue in Brooklyn, comprising a total square footage of 6,880 and containing 6 units. A refinance loan was secured for this property, amounting to $3,325,000.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $3,325,000
• Loan Type: Refinance
• Loan Terms: 3-years, fixed rate, 65% LTV
• Lender: Provident Bank
• Landlord: Peak Capital
• Brokers: Michael Lohan & Mitch Uris - Nineteen Blocks
• Attorney: Anderson Law

Nineteen Blocks represented Peak Capital in securing the loan for this property. The refinancing allows Peak Capital to continue their investment strategy in the Park Slope area, enhancing their portfolio within this well-located market.