Ronald Shields Secures $6.6 Million Refinance Loan For 112 Stewart Avenue Multifamily In Newburgh

The property asset involved in this transaction is a multifamily building located at 112 Stewart Avenue in Newburgh. The asset spans 58,700 square feet and consists of 70 units. The loan associated with this property amounts to $6,600,000 and is categorized as a refinance with a term of 5 years.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $6,600,000
• Loan Type: Refinance
• Loan Terms: 5 Years
• Lender: M&T Realty Capital Corporation & Fannie Mae
• Loan Originator: Michael Casey & Eli Avart - M&T Realty Capital Corporation
• Landlord: Ronald Shields

Michael Casey and Eli Avart, both from M&T Realty Capital Corporation, acted as the loan originators for this transaction, facilitating the refinance on behalf of the landlord, Ronald Shields. The involvement of M&T Realty Capital Corporation and Fannie Mae as lenders underscores the financial backing for this multifamily property deal.