LMF Commercial (A Lennar Co.) Provides $10M Refinance Loan For Multifamily Property In Midwood

Located in the Midwood market, the property at 1532 & 1609 Ocean Avenue is a multifamily asset spanning 56,950 square feet and comprising 75 units. The transaction, which took place on 8th September 2021, involved a refinancing loan.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $10,000,000
• Loan Type: Refinance
• Loan Terms: CMBS: 10-yr fixed, full term IO
• Lender: LMF Commercial (A Lennar Co.) - Nihad Choudhury
• Broker: Isaac Sternhill - IS Realty LLC

The financing for this transaction was provided by LMF Commercial, a subsidiary of Lennar Corporation. Nihad Choudhury, representing LMF Commercial, facilitated the loan. On the other side of the deal, Isaac Sternhill of IS Realty LLC served as the broker.