Abe Betesh & Joseph Betesh Secure $18.5M Refinance Loan For Multifamily Development In Brooklyn

The property asset involved in this transaction is a multifamily building located at 369 Quentin Road in Brooklyn. The asset encompasses a total of 65,000 square feet and has successfully undergone refinancing in the amount of $18,500,000.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $18,500,000
• Loan Type: Refinance
• Loan Terms: 5 Years
• Lender: Morgan Stanley
• Landlord: Abe Betesh & Joseph Betesh
• Broker: Shai Denburg - Gotham Commercial Capital

The key individuals involved in this transaction include Abe Betesh and Joseph Betesh, who are serving as landlords. Shai Denburg represents the brokers in this deal. The property has been managed through all stages by the landlords, who are also acting as the General Contractor for this development project. A note from the landlords mentions the successful refinancing into a permanent loan, affirming the execution of their business plan.