Leonard Primack Associates arranges $1.09 million refinancing

Paul Utah of Paul Utah, LLC and Leonard Primack of Leonard Primack Associates, Ltd have arranged a $1.09 million first mortgage refinancing for a 4-unit shopping strip located at 640-654 Broadway. The lender is a New York City thrift organization. The mortgage was fixed for 15 years based on a 30-year amortization. The fixed interest rate for the 15-year period was 6.875%. The 9,000 s/f shopping strip consists of a laundromat, hair salon, and Italian restaurant and bakery.