M&T Realty Capital Refinances Prospect Heights Multifamily For $414.8M

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.