Peapack Private Bank & Trust Provides $5.2 Million Refinance For Office In Sunset Park Brooklyn

The property asset involved in this transaction is a 25,256-square-foot office building located at 462 36th Street in Sunset Park, Brooklyn. The loan amount secured for the property is $5.2 million, provided by Peapack Private Bank & Trust, through a refinancing arrangement that replaces a previous debt of $6.5 million from Blackstone.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $5,200,000
• Address: 462 36th Street
• Market: Sunset Park, Brooklyn
• Lender: Peapack Private Bank & Trust
• Previous Debt: $6,500,000 from Blackstone
• Loan Type: Refinance

This financing deal was facilitated by Peapack Private Bank & Trust, representing their interests in providing refinancing solutions for commercial assets. The transaction indicates a strategic move to optimize debt management for the property located in a competitive office market.