Brooklyn Multifamily Renovation Loan
450 78th Street, Brooklyn, NY
$750,000
Description
ERG Commercial Real Estate is proud to present the recent financing of 450 78th Street in Brooklyn, NY. The owner of this 20 unit multifamily building wanted to take out a loan to do capital improvements on his property. The borrower also had the special condition of wanting to have this loan be self-liquidating over a 10 year period. ERG was able to secure a loan for the borrower that met his criteria at a rate of 4.0% for a 10 year fixed loan with a 10 year amortization period. Due to ERG’s close relationships with our banking partners, we exceeded our client’s goals and fulfilled his financial needs.
