Description

ERG Commercial Real Estate is proud to announce the recent finance closing of 1721 Melville Street, which is located in the Van Nest neighborhood of the Bronx. This 3 story building contains five 2 bedroom apartments and one 1 bedroom apartment. Mary Guarino of ERG Commercial Real Estate was able to secure a 10 year mortgage, fixed for the first 5 years at 3.625%, and resets for the remaining 5 years. In addition, we were able to get the client a cash out of over $400,000 to go towards his next real estate investment. The brokers on this transaction are actively originating loans throughout the five boroughs, Long Island and Westchester.