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Brooklyn Multifamily Refinance Secures 10-Year Fixed-Rate at 4.40% -- Progress Capital




(MENAFN Editorial) Abe Mann Negotiated the Amount and Terms of the Mortgage Refinance with First Republic Bank. Brooklyn Multifamily at 335 18th Street Brooklyn Multifamily at 335 18th Street TINTON FALLS, N.J. - Aug. 30, 2018 - PRLog -- In a rising rate environment working with a commercial mortgage broker has become almost essential to secure the best market rates. On behalf of his client, Abe Mann, Vice President at Progress Capital, secured a low 4.40% interest-rate fixed for 10-years to refinance the multifamily property at 335 18th Street in in the South Slope Neighborhood of Brooklyn. The subject property is a 3-story walk-up with 6 residential units

Negotiating a $1,600,000 permanent mortgage allowed the client to retire the existing debt on the property and recapture a significant amount of invested equity to fuel continued real estate acquisitions adding to an already robust portfolio.

The loan is accompanied by a 10-year term and 30-year amortization. In addition the borrower may repay the loan at any time without penalty.

Progress Capital is a leading Commercial Mortgage Banking firm specializing in arranging debt for commercial real estate owners and residential developers. Since 1990, Progress has successfully closed in excess of $40 Billion in commercial loans and deployed over $150 Million through their direct lending platform.

To Learn More About This and Other Deals from Progress Capital Visit Us Online: http://www.progresscapital.com

Media Contact
Matt Sadler

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Brooklyn Multifamily Refinance Secures 10-Year Fixed-Rate at 4.40% -- Progress Capital

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