CBZ Management Refinances Multifamily Portfolio In Brooklyn For $19.1M

Five multifamily properties located at 33 Westminster Avenue, 1198 Carrol Street, 1212 Lincoln Street, 1320 St. John's Place, and 1398 St. John's Place in Brooklyn have been involved in a recent transaction. The total square footage of these properties is 82,365, and they consist of a total of 87 units. The transaction took place on 12/28/2021.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $19,100,000
• Market: Brooklyn
• Lender: Local Savings Bank
• Landlord: CBZ Management
• Broker: Nate Hyman - Polaris Funding

The loan for this transaction was provided by Local Savings Bank. The loan amount was $19,100,000, and it was a refinance loan. The loan terms included a 3% interest rate, a 5-year fixed period, and a 2-year interest-only period.