Tahari Capital Secures $1.7M Refinance Loan From FBNJ For 2118 2nd Avenue Multifamily

The property asset involved in this transaction is located at 2118 2nd Avenue in the East Harlem market. This multifamily asset spans 5,000 square feet and contains 4 units. The property was refinanced with a loan amount of $1,700,000.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $1,700,000
• Lender: FBNJ
• Landlord: Tahari Capital
• Brokers: Jordan Sutton, Adam Croman, Jaden Lander & Jack Basora - Tahari Realty
• Loan Type: Refinance

The capital advisory group at Tahari Realty successfully arranged the financing for Tahari Capital. The property was purchased in 2021 for $1.8 million, followed by a comprehensive renovation. The leasing team from Tahari Realty achieved record rental rates for the property, facilitating a nearly complete cash-out refinance.