Kearny Bank Provides $10.35M Refinance Loan For Mixed-Use Property In Bethlehem, PA

The property involved in this transaction is a mixed-use asset located at 310-322 East 3rd Street in Bethlehem, PA. It has a total square footage of 42,000 and consists of 52 residential units and 7 commercial units. The property was refinanced on a 10-year loan with a fixed interest rate of 3.25% at 75% LTV.

Summary of transaction details

• Property Type: Mixed Use
• Transaction Amount: $10,350,000
• Loan Type: Refinance
• Lender: Kearny Bank
• Landlord: Ashley Development Corporation
• Brokers: Emil DePasquale & George Pektor - Black Bear Capital Partners

The loan amount for this transaction was $10,350,000. The property, which includes 52 residential units and 7 commercial units, was refinanced on a 10-year loan with a fixed interest rate of 3.25% at 75% LTV. Kearny Bank served as the lender for this transaction, while Ashley Development Corporation acted as the landlord. The brokers involved in the deal were Emil DePasquale and George Pektor from Black Bear Capital Partners.