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ICER Real Estate Services Acquires Mixed-Use Property In Harlem With $4.14M Loan From Arbor Realty Trust

537 Lenox Avenue
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This Mixed-use property located in NY received a loan of $4,147,000 over 5 years ago. The broker of the deal was Abe Mann

A loan transaction has taken place in Harlem. The property in question is a mixed-use building located at 537 Lenox Avenue. The loan amount for this transaction is $4,147,000. The terms of the loan include a fixed interest rate of 4.17% for a period of 7 years, with the first 2 years being interest-only.

Summary of transaction details

  • Property Type: Mixed-Use
  • Transaction Amount: $4,147,000
  • Market: Harlem
  • Lender: Arbor Realty Trust
  • Landlord: ICER Real Estate Services - Joseph L. Jemal
  • Broker: Abe Mann - Progress Capital

The lender for this loan transaction is Arbor Realty Trust, and the landlord is ICER Real Estate Services, represented by Joseph L. Jemal. Acting as the broker in the deal is Abe Mann from Progress Capital.

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Deals
  • Location
    537 Lenox Avenue, Manhattan, New York, NY, USA537 Lenox Avenue, Manhattan, New York, NY, USA
  • Loan Value
    $4,147,000$4,147,000
  • Asset Type
    Mixed-useMixed-use
  • Parties
    1 Broker, 1 Agency1 Broker, 1 Agency

Agent

Abe Mann

Abe Mann

Deals40
Financed$258.9M

Agency

Mann Capital Advisors

Mann Capital Advisors

Agency
Deals40
Volume$253.4M

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Deal Summary

LOAN IMAGE: Abe Mann DATE: 11/21/2018 ADDRESS: 537 Lenox Avenue MARKET: Harlem ASSET TYPE: Mixed-Use LENDER: @ArborRealtyTrust LANDLORD: ICER Real Estate Services - Joseph L. Jemal BROKER: Abe Mann @progress.capital LOAN AMOUNT: $4,147,000 TERMS: 4.17% fixed for 7 years, 2 years IO

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537 Lenox Avenue

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