Carle Place, NY ERG Industrial Actual Property’s Mary Guarino has delivered a $2.7 million refinance mortgage for the proprietor of 255 Glen Cove Rd. The 10-year mortgage with a charge adjustment after 12 months 5, has a three.625% rate of interest.
The 2 story, 9,429 s/f industrial constructing homes ERG’s firm headquarters on the second flooring and a medical marijuana dispensary on the bottom flooring.
“This refi was troublesome as a result of nature of one of many tenants,” mentioned Guarino. “Most banks shrink back from lending on a property with the sort of tenant however we have been capable of finding a financial institution that might. It is a high quality asset with a high quality tenant.”
Guarino additionally negotiated a $1.5 million refinance mortgage on a 3 story multifamily constructing at 75 West 118th St. in Harlem. The 10-year mortgage with a charge adjustment after 12 months 5, carries a three.5% rate of interest. The 5,200 s/f constructing has eight flats and was inbuilt 1909.
Thanks for Studying!
You have learn 1 of your three visitor articles
Join is fast, simple, & FREE.
Subscription Choices
Tags:
