This transaction involves a multifamily asset located in Astoria, consisting of 33 units. The refinancing loan was secured for an amount of $16,700,000 with terms structured as 12 + 6 + 6 months.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $16,700,000
• Lender: Trevian Capital
• Loan Type: Refinance
• Loan Terms: 12 + 6 + 6 months
• Market: Astoria
• Units: 33

The deal was facilitated by Michael Hoffenberg and Charlie Zabriskie, who represented the lender Trevian Capital. The note from the lender indicates that the loan was a pre-TCO and pre-485X tax-abatement bridge loan, designed to provide the sponsor with the necessary runway to obtain a TCO, lease up the property, secure the 485X tax-abatement, and stabilize the asset.