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$4,157,000 Secured for New Construction of Three Multifamily / Mixed-Use Buildings in the Bronx
Brad Domenico Negotiated the Amount and Terms of the Construction to Permanent Loan with Sterling National Bank on Behalf of Maddd Equities.
By: Progress Capital
Domenico arranged the loan with an initial 18-month interest-only period during construction. After the interest-only period the loan converts to a 7-Year permanent mortgage based on a 30 year amortization.
Progress Capital is a leading Commercial Mortgage Banking firm specializing in arranging debt for commercial real estate owners and residential developers. Since 1990, Progress has successfully closed in excess of $40 Billion in commercial loans and deployed over $150 Million through their direct lending platform.
Interested in learning more about this and other recent transactions from the Progress Team? Visit Us Online at http://www.progresscapital.com