East Greenbush, NY Axiom Capital Corp. has structured and arranged a $24.028 million construction to permanent loan. The 10-year loan features 30 years interest only, then fixed-rate, for the first phase of development of a mixed-used property located in Rensselaer County.
The first phase will include 78 apartment units and 18,833 rentable s/f of first floor commercial space. The project will also feature a community room/lobby, services area and storage space in three elevator-serviced buildings.
The property is 10 minutes southeast of Albany and 19 minutes south of Troy, and is well situated with a commute to some of the area’s largest employers.
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