Miceli of Largo finances $600,000 first mortgage

Perry Miceli, account executive for Largo Real Estate Advisors, Inc., arranged first mortgage financing in the amount of $600,000 for a mixed-use building. The property is located at 1487 Hertel Ave. and consists of seven retail stores, 18 apartment units and four garages to include Sterling Place Bar & Grille, The Artery, Fineline Gallery, La Marina and an Antique Shop. The subject property is 100% occupied and located less than two miles from Elmwood Ave., a major commercial route with office buildings, retail shops and restaurants. Miceli secured a 10-year fixed rate loan and a 25-year amortization schedule for the borrower. Largo is a commercial mortgage banking company that structures, closes and services commercial mortgages for acquisitions, refinances and redevelopment projects. Largo arranges innovative financing structures for borrowers throughout the U.S. and Canada. They manage the loan process from loan application through closing and service the loan throughout its term.