New York Community Bank Provides $5.2M Loan For Fort Greene Multifamily Property

Located at 205 Ashland Pl. in Fort Greene, this multifamily property was recently involved in a closed transaction. The property spans a total of 25,000 square feet and is owned by Frederick Wiener. It was marketed in the market by Daniel Kowalsky from HKS Real Estate Advisors.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $5.2M senior debt (plus $650K line of credit)
• Loan Terms: 4.625%, 7 year term, 2 years Interest Only
• Lender: New York Community Bank
• Landlord: Frederick Wiener
• Broker: Daniel Kowalsky - HKS Real Estate Advisors

The loan for this property was provided by New York Community Bank. It consisted of $5.2 million in senior debt, along with an additional $650,000 line of credit. The loan terms included an interest rate of 4.625%, a 7-year term, and 2 years of interest-only payments.

Frederick Wiener, the landlord of the property, sought the assistance of Daniel Kowalsky from HKS Real Estate Advisors as the broker representative in the deal.