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New York Community Bank Provides $2.8M Refinance Loan For 12-Unit Multifamily Property In East Village

423 East 12th Street
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This MultiFamily property located in NY received a loan of $2,800,000. The broker of the deal was Michael Volpe

A multifamily property located at 423 E. 12th St. in the East Village has recently undergone a refinancing transaction. The property spans approximately 7,100 square feet and comprises 12 units. The asset, owned by landlord Adam Macagna, was involved in the deal.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $2,800,000
  • Loan Type: Refinance
  • Loan Terms: 7 years fixed at 3.75%; 30-year

The lender, New York Community Bank, provided a loan of $2,800,000 for the refinancing. Highcap Group, represented by broker Michael Volpe, facilitated the deal between the borrower and the lender.

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Deals
  • Location
    423 East 12th Street423 East 12th Street
  • Loan Value
    $2,800,000$2,800,000
  • Asset Type
    MultiFamilyMultiFamily
  • Parties
    1 Broker, 1 Agency, 1 Lender1 Broker, 1 Agency, 1 Lender

Agent

Michael Volpe

Michael Volpe

Deals17
Financed$69.7M

Agency

Highcap Group

Highcap Group

Agency
Deals90
Volume$597.6M

New York Community Bank

New York Community Bank

Lender
Deals87
Volume$ 316.6B

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Deal Summary

LOAN IMAGE: Michael Volpe DATE: 07/14/2022 ADDRESS: 423 E. 12th St. MARKET: East Village ASSET TYPE: Multifamily ~ SF: 7,100 ~ UNITS: 12 LENDER: New York Community Bank LANDLORD: Adam Macagna BROKER: Michael Volpe (@VolpeMV14) - Highcap Group (@Highcap_Group) LOAN AMOUNT: $2,800,000 LOAN TYPE: Refinance LOAN TERMS: 7 years fixed at 3.75%; 30 year

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423 East 12th Street

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