Conway Capital Refinances Multifamily Property On Diamond Street For $2.8M

A multifamily property located at 60 Diamond Street in New York City has recently undergone a loan refinancing transaction. The property consists of 4,500 square feet and encompasses six units. The loan, facilitated by LMF Commercial, was provided by Nihad Choudhury. The landlord of the property is Conway Capital, represented by Abe Cohen. The transaction was facilitated by broker Robert Tobias.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $2,800,000
• Loan Type: Refinance
• Loan Terms: CMBS: 10-year Full IO, 80% LTC

The loan amount secured for the refinancing deal was $2,800,000. The loan terms include a CMBS loan with a duration of 10 years, full interest-only payments, and a loan-to-cost ratio of 80%. Nihad Choudhury, representing LMF Commercial, played a key role in securing the loan for the transaction. Abe Cohen, as the representative of Conway Capital, served as the landlord in the deal. Broker Robert Tobias facilitated the transaction between the parties involved.