M&T Realty Capital Refinances Prospect Heights Multifamily For $414.8M
18 6th Avenue
Summary
The property involved in the transaction is a multifamily asset located at 18 6th Avenue in Prospect Heights, Brooklyn. The loan amount for the refinance was $414,829,000 with a 10-year, fixed-rate term. The lender for this transaction was M&T Realty Capital Corporation, represented by Robert Barry & Andrea Wagonseller. The landlord of the property is The Brodsky Organization.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $414,829,000
- Lender: M&T Realty Capital Corporation - Robert Barry & Andrea Wagonseller
- Landlord: The Brodsky Organization
- Loan Type: Refinance
- Loan Terms: 10-year, fixed rate
The loan for this transaction was provided by M&T Realty Capital Corporation, with Michael Edelman, the Chief Executive Officer, expressing excitement about financing The Brodsky Organization and Greenland. Freddie Mac offered an attractive 10-year, fixed-rate refinance for the project, taking into account the numerous affordable housing units provided in the Prospect Heights neighborhood by Brooklyn Crossing.
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