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Brokerage
Posted: January 25, 2010
Mooney of MMCC arranges two loans totaling $3.8 million in the Bronx
Marcus & Millichap Capital Corp. (MMCC) has arranged two loans totaling $3.8 million. The loans include the following:
* A $1.71 million fixed-rate loan for the refinance of a 20-unit, multifamily building, located in the Hunts Point section. Sean Mooney, an associate director at MMCC, arranged the financing package for the multifamily property. Financing was provided by a commercial bank at the rate of 6.125%. Terms of the loan are for five years with a 30-year amortization schedule. Loan to value was 75%.
* A $2.09 million fixed-rate loan for the cash-out refinance of a 26-unit, multifamily building, located in the West Farm section. Mooney arranged the financing package for the multifamily property. Financing was provided by a commercial bank at the rate of 6.125%. Terms of the loan are for five years with a 30-year amortization schedule. Loan to value was 75%.
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