Zions Capital Markets Closes $49.975 Million Refinance For Multifamily Development In Fort Greene Brooklyn

The asset involved in this transaction is a multifamily property located at 151 Carlton Avenue in Brooklyn. It consists of 63 units and includes a mix of free market and rent-stabilized apartments, along with ground-floor retail space. The refinance amount secured for this newly developed property is $49,975,000, structured as a 5-Year Interest Only loan.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $49,975,000
• Address: 151 Carlton Avenue
• Market: Brooklyn
• Lender: Zions Capital Markets
• Landlord: David Halberstam
• Landlord's Representative: Daniel J. Pollak - ZP Realty Capital
• Attorney: Chris Connors & Mark Arinci - Holland & Knight
• Loan Type: Refinance
• Loan Terms: 5-Year Interest Only

The transaction was executed in a notably quick timeframe of 30 days, showcasing Zions Capital Markets' efficiency in managing financing solutions. Led by Angelo Mannino, the firm has strengthened its reputation in the multifamily sector by leveraging local networks alongside innovative lending strategies. Zions Capital Markets continues to enhance its standing in the New York real estate finance community through this engagement.