Ponce Bank Provides $2.1M Loan For Multifamily Property In Williamsburg

The property asset involved in this transaction is located at 52 Monitor Street in the Williamsburg market. It is a multifamily asset with a total square footage of 6,875 and consists of 8 units. The loan amount secured for this property is $2,100,000, categorized under repositioning with a loan term of 3 years.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $2,100,000
• Address: 52 Monitor Street
• Market: Williamsburg
• Asset Square Footage: 6,875
• Units: 8
• Lender: Ponce Bank
• Landlord: Philip Miller
• Broker: Elya Kahn - Greenrock Funding
• Loan Type: Repositioning
• Loan Terms: 3 years

The transaction involved key individuals including Yanni Kouzilos, Doug Romero, and Sandra Viera who represent Ponce Bank. Elya Kahn from Greenrock Funding acted as the broker in the deal, facilitating the financing for Philip Miller, the landlord of the property.