Marcus & Millichap Capital secures $9.79 million for 13,575 s/f mixed-use

Brooklyn, NY Marcus & Millichap Capital Corp. (MMCC) arranged $9.79 million in financing for the acquisition of a 13,575 s/f mixed-use multifamily and retail property located at 235-237 Kent Ave.

Bradley Buzil, senior director in MMCC’s Los Angeles office, secured a five-year, fixed-rate non-recourse loan with five years of interest-only payments at 60% loan-to-value with a national bank on behalf of the buyer.

The property features ground-floor retail space with 11 multifamily units on the upper three floors. Amenities include on-site laundry and roof access with a waterfront view. It is located near the East River waterfront and Domino Park, and within close proximity to the MTA

“The property’s Williamsburg location, mixed-use profile and proximity to the waterfront supported strong lender interest,” said Buzil. “We secured a non-recourse solution that aligned with the buyer’s acquisition strategy and long-term business plan, locking a rate well below market even as indexes ran up materially through the process.”