Massey Knakal Capital Services Closes A $900,000 Loan In The West Village
Massey Knakal Capital Services is pleased to announce the closing of a $900,000 non-recourse loan collateralized by a mixed-use property with two residential units and one commercial unit at 619 Hudson Street in Manhattan’s West Village neighborhood. The loan featured a 7-year term with a fixed-rate at 3.75%, and 30-year amortization.
"Many people we speak to in the West Village have a hard time financing their buildings with less than five residential units. Several of the big names in the multifamily lending arena won’t touch an asset like 619 Hudson Street simply because of its size. We actively scoured the lending community, and we have found lenders offering competitive rates and structures for this ‘niche’ asset type,” 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.