The property asset involved in this transaction is located at 30-14 37th Street in Astoria, identified as an office space. The loan amount secured for this asset is $1,550,000, specifically designated as a refinance loan.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $1,550,000
• Lender: Emigrant Bank
• Broker: Andreas Odysseos - Essencap Funding LLC
• Loan Type: Refinance

This transaction involved a physician who previously owned and operated their medical office building. The property has been leased to a major hospital operator, reflecting a strategic transition facilitated by the restructuring of the original owner-occupied loan into an investment property loan, enhancing growth potential and financial stability.