The Reel

Follow us:

A blog for breaking sales and neighborhood real estate news.

Massey Knakal Capital Services is pleased to announce the closing of a $24.0 million loan collateralized by a 227-unit multifamily property in Rockland County, New York.  The loan featured a fixed interest rate and a seven-year term.
“This refinancing was brought to Massey Knakal Capital Services after the sponsor had received a quote from his relationship lender that was unsatisfactory.” said Director Preston Flammang, who exclusively handled this transaction. “We brought in another lender who was much more comfortable with the transaction, and was attracted to developing a relationship with this multi-generational real estate owner. The lender secured by Massey Knakal provided an additional $3.0MM in proceeds compared to the original lender, at a fixed-rate that was 20bps lower.”

Click here for press release

Neighborhoods: Westchester County/ Agents: Preston Flammang