Massey Knakal Capital Services Closes A $3.4 Million Loan In The East Village
Massey Knakal Capital Services is pleased to announce the closing of a $3.4 million loan collateralized by an owner-occupied mixed-use building in Manhattan’s East Village neighborhood. The Borrower, the owner/operator of the ground floor bar and first time buyer of commercial real estate, received a loan that represented 83% of his purchase price earlier in April.
"This particular bar owner had four separate operating accounts with the bank, and was denied a commercial loan on two separate occasions. Once we were retained, and we put together a comprehensive marketing package highlighting the strengths of the property and the sponsor, that very same bank agreed to do the deal,” said Massey Knakal’s John Leslie, 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.