Mark Guindi's GD Capital Secures $2.5M Loan For Williamsburg Multifamily Property With Spencer Savings Bank

Located in the vibrant market of Williamsburg, the multifamily property at 267 Powers Street has recently undergone a closed transaction. The property was financed by Spencer Savings Bank, with a loan amount of $2,531,250. The terms of the loan include a 75% loan-to-cost (LTC) ratio, a 30-year amortization period, and non-recourse liability. This transaction was facilitated by the expertise of Brad Domenico and Frank Stanislaski from Progress Capital.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $2,531,250
• Lender: Spencer Savings Bank
• Landlord: Mark Guindi - GD Capital
• Brokers: Brad Domenico - Progress Capital, Frank Stanislaski - Progress Capital
• Date: 11/30/2020
• Address: 267 Powers Street, Williamsburg

The financing of this multifamily property at 267 Powers Street was arranged in collaboration with Spencer Savings Bank. Mark Guindi, representing GD Capital, assumed the role of the landlord in this closed transaction. Furthermore, Brad Domenico and Frank Stanislaski, both from Progress Capital, acted as the brokers, expertly facilitating the deal. This successful closed transaction signifies a noteworthy investment opportunity in the bustling market of Williamsburg.