Massey Knakal Capital Services Closes A $7.5 Million Loan In Union Square
Massey Knakal Capital Services is pleased to announce the closing of a $7.5 million loan collateralized by a mixed-use building in the Union Square neighborhood of Manhattan with 15 residential units and 1 commercial unit. The non-recourse acquisition loan closed at 3.00% for five years, on an interest-only basis.
“With our client working with an investor that was flipping a contract, all due diligence was handled with extreme confidentiality. Not only did the process need to be completely confidential, it also had to be very quick with only 28 days from contract signing to property transfer. Although the challenges were significant, we closed the loan at terms that were some of the best in the marketplace,” said Director Scott Aiese, 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, constructions loans, mezzanine loans, bridge loans, preferred equity, and joint-venture equity.