Meridian Capital Group Facilitates $4.5M Loan For Multifamily Property At 1299 Ocean Avenue, Brooklyn

An undisclosed multifamily property located at 1299 Ocean Avenue in Brooklyn has been involved in a recent closed transaction. The deal took place on 06/23/2021.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $4,500,000
• Market: Brooklyn
• Lender: NYCB
• Brokers: Charles Grussgott & Michael Helmreich - Meridian Capital Group

The loan provided for this transaction amounted to $4,500,000. The terms of the loan include a 3.38% interest rate, a 7-year term, and a five-year extension option. The lender involved in the deal is NYCB.

Representing the parties in this transaction were Charles Grussgott and Michael Helmreich from Meridian Capital Group, serving as brokers.