Webster Bank Refinances Multifamily Property In Crown Heights For $21M

The multifamily property located at 550 Prospect Place in Crown Heights has recently undergone a refinancing transaction. With a total square footage of 46,359 and consisting of 41 units, this property offers significant investment potential.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $21,000,000
• Address: 550 Prospect Place
• Market: Crown Heights
• Lender: Webster Bank
• Landlord: CAVU Property Group

Webster Bank played a crucial role in the transaction as the lender, providing the necessary financing to support the refinancing. The landlord, CAVU Property Group, initiated the deal, recognizing the opportunity to optimize their investment in this multifamily property.