Massey Knakal Capital Services is pleased to announce the closing of two loans in Manhattan and Brooklyn for total proceeds of approximately $8.0 million.
A $5.8 million loan that was used to refinance the existing construction facility was secured for an 18-unit apartment building located in Brooklyn’s Park Slope. This was a newly constructed property built to condo specifications.
“Even though the lender quoted the loan at a time when the building was vacant, we were able to get the borrower full proceeds as if the property was fully leased,” said Garrett Thelander, Massey Knakal Capital Services Managing Director, who exclusively handled this transaction with Director Preston Flammang.
Additionally, a $2.1 million refinanced loan was secured for a 5,000 square foot, mixed-use property in Manhattan’s Greenwich Village.
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Neighborhoods: Greenwich Village, Park Slope/ Agents: Preston Flammang