Spencer Savings Bank Provides $3.6M Loan For Multifamily Property At 230 President Street In Carroll Gardens, Brooklyn

The multifamily property located at 230 President Street in Carroll Gardens, Brooklyn has recently undergone a transaction. The property, owned by Conway Capital and represented by Abe Cohen, caught the attention of potential buyers in the market.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $3,600,000
• Lender: Spencer Savings Bank
• Loan Representative: Lorenzo Damiano
• Landlord: Conway Capital
• Landlord Representative: Abe Cohen
• Broker: ABS Altman Warwick
• Broker Representative: Morris Dweck

Lorenzo Damiano from Spencer Savings Bank provided the loan for this transaction. The loan amount totaled $3,600,000, with terms including an interest rate of 3.25%, a 5-year term, a 30-year amortization period, and non-recourse conditions. The involvement of Spencer Savings Bank as the lender demonstrates their confidence in the property's potential.

Conway Capital, the landlord, entrusted the representation of their property to Abe Cohen. Abe Cohen's expertise in the market ensured that the property received the attention it deserved.

Morris Dweck from ABS Altman Warwick acted as the broker for this transaction. His role was vital in connecting the parties involved and facilitating a successful deal. The collaboration between Morris Dweck and both the lender and the landlord showcases their reliance on his expertise.