Mendel Greisman Secures $17.5 Million Refinance Loan At 268-274 Sullivan Place In Crown Heights

268-274 Sullivan Place is a multifamily property located in the Brooklyn-Crown Heights market, featuring 37 units across a new 7-story construction. The loan for this property amounts to $17,500,000 and is structured as a refinance, with a loan term of 5 years at a rate of 5 Yr T + 228, and is interest-only for the full term. The property benefits from CityFHEPS.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $17,500,000
• Lender: Eric Mirvis - Citi Group
• Landlord: Mendel Greisman
• Landlord's Rep: David Eisen & Meir Kessner - Seven Stone Capital
• Loan Type: Refinance
• Loan Terms: 5 year term, rate at 5 Yr T + 228, full term Interest Only

In this transaction, Eric Mirvis from Citi Group acted as the lender, providing financial backing to Mendel Greisman, the landlord. Representing the landlord in the deal were David Eisen and Meir Kessner from Seven Stone Capital, playing a crucial role in facilitating this refinancing agreement for the multifamily property.