Santander Bank Provides $4.25M Loan For Multifamily In Brooklyn

A multifamily property located at 1229 Ave. Y in Brooklyn recently closed in a transaction. The property features multiple units and is situated in the Brooklyn market.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $4,250,000
• Loan Amount: $4,250,000
• Loan Terms: $4.25 Million, 10-year term, 8 years IO, Interest 3.1%
• Lender: Santander Bank
• Landlord: Gershon And Co.
• Broker: Simon Rosenfeld - Meridian Capital Group

The loan for this transaction was provided by Santander Bank. Gershon And Co. acted as the landlord in the deal. Simon Rosenfeld from Meridian Capital Group served as the broker representing the parties involved in the transaction.