NEW
YORK, July 16, 2024 /PRNewswire/ -- David
Brody, a loan originator with Eastern Union, has arranged
$12 million toward the refinancing of
a one-story, 35,210-square-foot industrial building in the
Williamsburg section of Brooklyn.
Eastern Union, based in New
York, is one of America's largest providers of commercial
mortgage brokerage and capital markets advisory services.
The property includes warehouse space, office space, and a
parking garage.
"Eastern Union delivered competitive interest rates on this
refinancing," said Mr. Brody. "The owner reaped good proceeds on a
cash-out transaction."
"David Brody leveraged his real
estate expertise to deliver a deal structure that was highly
favorable for his client," said Abe
Bergman, president of Eastern Union. "While we have national
reach, Eastern Union also has an excellent reputation as one of the
most prolific brokers of commercial real estate mortgages
throughout Brooklyn."
The refinancing carried a 65-percent loan-to-value ratio. The
loan's term was five years, with interest-only payments over the
full term. The interest rate was set at 6.54 percent. The
identities of neither the owner nor the lender were disclosed.
The property, built in 1931, occupies a 1.04-acre parcel between
Franklin Street and Wythe Avenue. It
includes a 10,000-square-foot parking lot and is currently
net-leased by the City of New
York.
About Eastern Union
Founded in 2001, Eastern Union is a national commercial real
estate firm that provides both financing services and capital
markets advisory services. It employs more than 90 real estate
professionals and closes billions of dollars' worth of transactions
annually. Eastern Union leverages its relationships with lenders
and its marketplace knowledge to secure the best available rates
and terms.
Eastern Union secures financing for transactions of all sizes
across the United States.
Transactions, which can include multi-state and multi-site
portfolios, encompass conventional commercial mortgages, structured
debt, healthcare, hospitality, manufactured home properties,
single-family rentals, investment sales, and -- handled in
conjunction with company affiliate Eastern Equity Advisors --
equity placement.
For more information, visit www.easternunion.com.
Media contact:
Steve Vitoff
Eastern Union
516 652 0785
380417@email4pr.com
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SOURCE Eastern Union