Description

ERG Commercial Real Estate is proud to announce the recent financing of 1243 Dean Street, Brooklyn. ERG was able to secure long term financing, fixed for 7 years with a 30 year amortization period for 3.75%. The property was an 8 unit multifamily building with one of the apartments being occupied by the owners. ERG was able to close this deal during the height of the corona virus pandemic. Because of ERG’s strong banking relationships we were able to navigate the quickly changing lending environment during the pandemic and walk the borrowers through new lending requirements and underwriting guidelines.