Atlantic Wyona Apartments

Transaction description

Matthew Farzinpour of PSRS arranged the $3.8 million refinance of a mixed-use property in Brooklyn, New York. The subject property consists of two adjacent three-story buildings, offering a combined 12 units, nine apartments and three commercial spaces, across residential and commercial uses. PSRS financed the property using one of its correspondent life insurance companies, providing its borrower with a 63% LTV loan, five-year term, 25-year amortization, and the option to fully amortize the loan at the borrower’s discretion.