Massey Knakal Capital Services Closes A $3.0 Million Loan On Upper East Side
Massey Knakal Capital Services is pleased to announce the closing of a $3.0 million loan collateralized by a mixed-use property on Manhattan’s Upper East Side. The building contains a restaurant with ten residential units above. The loan featured a 5-year term with an interest rate of 3.75%.
“This property was recently gut renovated. Four rent regulated tenants were bought out over the last 18 months and a new restaurant, Brick Lane Curry House was installed on the ground floor. The financing also included a structure that would provide the owner additional funds to buy out more tenants and renovate their apartments,” 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.