Four Corners Development Group Secures $9.6M Refinance Loan For Multifamily Properties In Brooklyn

Four Corners Development Group has completed a refinancing deal for three properties in Brooklyn. The multifamily properties, located at 233 Malcolm X Blvd, 266 Malcolm X Blvd, and 860 Macon Street, have a total square footage of 14,230. The loan amount for the transaction was $9,573,000. The loan terms include a fixed interest rate of 5.18% for 5 years, with the first 2 years being interest only. The prepayment penalty for the loan is $32,111.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $9,573,000
• Address: 233 Malcolm X Blvd, 266 Malcolm X Blvd, 860 Macon Street
• Market: Brooklyn
• Square footage: 14,230

The deal was facilitated by brokers Judah Hammer and Daniel Neiss from Meridian Capital Group. They represented Four Corners Development Group in the transaction.