Joel Schwartz Secures $17.8M Refinancing Loan For Greenpoint Multifamily

Joel Schwartz, operating through 494 Manhattan LLC, secured a $17.8 million refinancing loan from Arbor Realty Trust for the 23-unit residential elevator building at 494 Manhattan Avenue in Greenpoint, Brooklyn. The property is a multi-family building with a total square footage of 20,179. It is located in the Greenpoint market of Brooklyn.

Summary of transaction details

• Property Type: MultiFamily
• Transaction Amount: $17,812,000
• Square Footage: 20,179
• Units: 23
• Lender: Susana Iannicelli - Arbor Realty Trust
• Landlord: Joel Schwartz

Joel Schwartz, operating through 494 Manhattan LLC, worked with Susana Iannicelli from Arbor Realty Trust as the lender in securing the $17.8 million refinancing loan for the property at 494 Manhattan Avenue in Greenpoint, Brooklyn. This loan will provide financial stability and flexibility for the residential elevator building, benefiting both Schwartz as the landlord and the tenants residing in the 23 units.