Signature Bank Provides $94.5M Refinance Loan For Multifamily Property At 409 Eastern Pkwy, Brooklyn

A multifamily property located at 409 Eastern Pkwy (AKA 1535 Bedford Ave) in Brooklyn has undergone a refinancing transaction. The property spans approximately 197,395 square feet and is situated in the Brooklyn market.

Summary of transaction details:

• Asset Type: Multifamily
• Loan Amount: $94,500,000
• Loan Type: Refinance
• Loan Terms: 3.125% fixed for 5 years, 2 years I/O
• Lender: Signature Bank
• Brokers: Scott Assouline & Isaac Lifshitz - Meridian Capital Group

The financing for this transaction was provided by Signature Bank. Scott Assouline & Isaac Lifshitz from Meridian Capital Group served as the brokers involved in the deal. The loan amount was $94,500,000, and it was a refinance loan with terms of 3.125% fixed for 5 years, followed by 2 years of interest-only payments.