Saturday, April 9, 2011
$3.9 Million First Mortgage Arranged for Multi-Family and Retail Mixed-Use Complex in Lancaster, NY
Financing for this transaction was provided by an insurance company at the rate of six percent. Terms of the loan are for 10 years and the loan to value is 72 percent.
Gerald Kray, a senior director in the firm’s Manhattan office, arranged the financing.
$2.185 Million First Mortgage Closed on East 83rd Street Multi-Family Apartment Building in New York City
NEW YORK, NY– Marcus & Millichap Capital Corporation (MMCC) has arranged $2,185,000 in refinancing for a 16-unit multifamily property located in the Upper East Side of Manhattan, New York.
Gerald Kray (lower right photo), a senior director in the firm’s Manhattan office, arranged the 10-year financing with a New Jersey based Savings Bank. The interest rate was 4.75 percent with 75 percent loan to value.
Press Contact: J.D. Parker, Vice President and Regional Manager, Manhattan