McKeown of CPC closes two loans: $735,000

The H.V. office of The Community Preservation Corp. (CPC) closed on two permanent loans totaling $735,000 for two properties comprising a total of five residential units and one commercial unit. Sadie McKeown, regional director of CPC, handled the loans, both of which are insured by SONYMA. A permanent loan for $435,000 will finance the acquisition and gut rehab of a three-story two-family house on Prospect St. The borrower, William Kiesel, is a construction contractor and developer. CPC provided a borrower with a $300,000 permanent loan to refinance the existing mortgage on a renovated mixed-use, two-story 3,700 s/f property on Broadway, Haverstraw.