Eastern Consolidated arranges two refinance loans totaling $13 million: Aghravi and Han broker $7 million and $6 million deal handled by Zabala and Han

 

 

 

Manhattan, NY Eastern Consolidated’s Capital Advisory Division has arranged two loans totaling $13 million. 

A $7 million loan to refinance a 4,500 s/f retail condo at 201 Mulberry St. in Nolita. Managing director Jonathan Aghravi and associate director Charles Han represented the borrower, 201 Mulberry Commercial LLC, and secured a bridge loan from Rob Rynarzewski, vice president of East West Bank.

“East West was able to provide a short-term bridge loan that reduced the borrower’s previous interest rate and allowed additional time to sign a long-term lease for the space,” Aghravi said.

Located at the base of a six-story elevator residential building, the ground floor condo features five skylights, 10- to 18-ft. high ceilings, and 21 feet of frontage on Mulberry St.

Aghravi noted that Nolita today is seen as an extension of SoHo, offering a blend of dining, entertainment, shopping, culture, and night life, yet still retaining its “Old New York” charm.

The property has excellent access to transportation, with the 6 train at the Spring Street station; J and M trains at Bowery; 6, J, M, and Z trains at Canal; and the B, D, F, and V trains at Broadway-Lafayette. 

A $6 million loan to refinance the ground lease for a 33,636 s/f shopping center at 945 White Plains Rd. in the Soundview section of the Bronx. The center is home to major retailers Modell’s Sporting Goods, Party City, and Game Stop.

Managing director Sam Zabala and associate director Charles Han represented the borrower, M&M of Bruckner LLC, which is operated by the Modell family, and secured a loan from Signature Bank.

“This retail center is ideally located in a major shopping district within the Bronx, near national retailers such as Old Navy, Marshalls, Toys-R-Us, Gap Outlet, and Auto Zone, among others,” Zabala said. “The also property is easily accessible from the Bruckner Expressway and is a few blocks from the major intersection of Interstates 95, 278 and 678.”

Powered by a highly skilled team of over 100 brokers with a fluency in 15 languages, Eastern Consolidated is one of the country’s preeminent full-service commercial real estate firms. Through three core divisions—Investment Sales, Capital Advisory, and Retail Leasing—Eastern Consolidated serves an impressive roster of international and domestic institutional and private investors on real estate transactions of all sizes and across all property types.