Wells Fargo Refinances David Grunfeld & Joel Wieder's Multifamily Property In Williamsburg For $14M

The property asset involved in this transaction is a 13-unit residential elevator building located at 57 South 6th Street in Williamsburg, Brooklyn. The total square footage of the building is 14,006. The transaction features a loan amount of $14 million, which is part of a refinance structure.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $14,000,000
• Address: 57 South 6th Street
• Market: Williamsburg, Brooklyn
• Asset Size: 14,006 SF
• Units: 13
• Lender: Wells Fargo
• Landlord: David Grunfeld & Joel Wieder
• Loan Type: Refinance

This transaction involved Wells Fargo refinancing the existing debt of $12 million previously held by S3 Capital, providing improved financial terms for the landlords, David Grunfeld and Joel Wieder, for this residential asset.