B6 Real Estate Advisors Refinances 16-Unit Multifamily In Crown Heights For $2.8M Loan
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This MultiFamily property located in NY received a loan of $2,825,000 almost 2 years ago. The brokers of the deal were DJ Johnston, Lynn Marcello, and Nicole Schmidt
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- Location516 Eastern Parkway, Brooklyn, New York 11225, United States
- Loan Value$2,825,000
- Asset TypeMultiFamily
- Parties3 Brokers, 2 Agencies, 1 Lender
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Deal Summary
LOAN
IMAGE: DJ Johnston, Nicole Schmidt & Lynn Marcello
DATE: 05/24/2022
ADDRESS: 516 Eastern Pkwy.
MARKET: Crown Heights, Brooklyn
ASSET TYPE: Multifamily ~ SF: 18,200 ~ UNITS: 16
LENDER: Chase Bank
LANDLORD: Ryan Walker
BROKERS: DJ Johnston (@B6RealEstate_JohnstonTeam), Lynn Marcello (@Lynnnstagram__) & Nicole Schmidt (@Nicole_mSchmidt) - B6 Real Estate Advisors
LOAN AMOUNT: $2,825,000
LOAN TYPE: Refinance
LOAN TERMS: 10-year fixed, 65% LTV, 3.58% Interest Rate
NOTE FROM BROKER: B6’s Capital Advisory Team successfully completed a re-finance on behalf of their client for a 16-unit multifamily building in Crown Heights. After a three-week marketing & negotiation period, the client selected a 10-year, fixed rate bank loan, non-recourse, with two years interest only. The long-term fixed rate debt with affordability discount will protect the client from market volatility over the next decade, & the interest-only period will allow for increased cash flow during the first two years.
If you would like to explore financing for your current property or portfolio, please connect with the B6 Capital Advisory team. DJ Johnston 914-584-7422 [email protected].
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