Avdoo & Partners Refinances Multifamily Properties In Prospect Heights For $7.95M

Avdoo & Partners has refinanced a multifamily property in Prospect Heights, Brooklyn. The property, located at 1133 Dean Street, 1148 Union Street, and 724 Franklin Ave, spans a total of 18,100 square feet. The loan amount for the refinancing is $7,950,000, with a loan term of 5 years and an interest rate of 3.875%. The first 3 years of the loan term will be interest-only.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $7,950,000
• Address: 1133 Dean Street, 1148 Union Street & 724 Franklin Ave
• Market: Prospect Heights, Brooklyn
• Loan Type: Refinance
• Loan Terms: 3.875%, 5 Years, 3 Years I/O

The refinancing deal was facilitated by Jonathan Aghravi, Eli Terry, Evan Srebrenik, and Timothy Cox from JBA Equities, representing Avdoo & Partners. The brokers successfully negotiated the terms of the loan, allowing Avdoo & Partners to refinance the property and secure favorable loan conditions.