Black Bear Capital Partners ("BBCP") advises The Klein Group on a $5.65m loan in NYC

A refinance loan of $5,650,000 was successfully closed for a 5,041 SF single tenant retail cooperative unit property located at 132 Greene Street in New York, NY, within the Soho market. The loan is structured as a 5-year fixed-rate facility with a 30-year amortization schedule, priced at 1-Month Term SOFR + 2.18%, leading to an effective rate of 5.45%. The transaction closed at 65% loan-to-value (LTV), offering long-term stability and competitive pricing for the existing client.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $5,650,000
• Address: 132 Greene Street
• Market: Soho, Manhattan
• Asset Size: 5,041 SF
• Landlord: The Klein Group
• Capital Advisors: Brandon Harris & Bryan Manz - Black Bear Capital Partners
• Loan Type: Refinance
• Loan Terms: 5-year fixed-rate facility with a 30-year amortization schedule
• Effective Rate: 5.45%
• LTV: 65%

Brandon Harris and Bryan Manz of Black Bear Capital Partners represented The Klein Group in an advisory role for this transaction, facilitating the refinance with a balance sheet lender. Their involvement was critical in securing favorable loan terms for the client.