Michael E. Jones Obtains $6.2M Loan For Multifamily Properties In Grand Central, Manhattan

Michael E. Jones has secured a loan valued at $6.2 million from Newtek Bank for two residential walkup properties located at 113 & 115 East 39th Street in the Grand Central neighborhood of Manhattan. The multifamily properties have a total building square footage (BSF) of 13,168 and a total square footage (SF) of 12,319.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $6,250,000
• Address: 113 & 115 East 39th Street
• Market: Grand Central, Manhattan
• BSF: 13,168
• SF: 12,319
• Lender: Newtek Bank
• Landlord: Michael E. Jones

Michael E. Jones obtained the loan from Newtek Bank through Newtek Business Services Holdco 6, Inc. for the acquisition of the two walkup multifamily properties located in Grand Central, Manhattan. The loan amount of $6.2 million will contribute to the financing of the transaction.