Fisher of CBRE arranges $7.05 million for 6 Charles Street

CBRE Capital Markets' Debt & Structured team has arranged $7.05 million in financing for 6 Charles St., a six-story, 27-unit apartment building in the West Village. CBRE worked on behalf of the property owner, Elk Investors, to secure a 30-year loan that carries a low-mid 3% interest rate which is fixed for seven years and floating thereafter. The loan was facilitated by Mark Fisher of CBRE's Midtown Manhattan office. "Although this was a relatively small financing as far as NYC multifamily is concerned, the terms were exemplary," said Fisher. "This was a par loan without any lender fees, closing costs, escrows for insurance, or real estate taxes. The loan also provides a very favorable open prepayment option." Morry Kalimian, of Elk Investors, said, "This is an exceptional property in a top location that is perpetually 100% leased. We expected the best terms and conditions possible and CBRE delivered."