Massey Knakal Capital Services Closes A $1.6 Million Loan In Midtown East
Massey Knakal Capital Services is pleased to announce the closing of a $1.6 million refinance loan collateralized by a multifamily property in Manhattan’s Midtown East neighborhood. The building contains nine residential units and consists of approximately 6,135 square feet. The loan featured a 10-year fixed term with an interest rate of 3.75%.
“We’ve been very active in the multifamily financing market, a market where long-term rates are still affordable. We always advise clients to close as quickly as possible, and work with the lender to ensure that is the case. With 10-year treasuries spiking by 40 bps over the last 2 weeks, our client was pleased to have had such a great execution on this asset,” said Director Morris Betesh, who exclusively handled this transaction.
Massey Knakal Capital Services provides unparalleled market knowledge that delivers the most creative financing strategies to meet its client needs.MKCS specializes in a variety of debt and equity based real estate financing including fixed/floating rate loans, construction loans, mezzanine loans, bridge loans, preferred equity, and joint-venture equity.