News:
Brokerage
Posted: June 10, 2025
Phillips of Largo Real Estate completes $7.5 million refinancing
Orchard Park, NY Jack Phillips, principal at Largo Real Estate Advisors, Inc., arranged a permanent first mortgage to refinance existing debt and fund construction for the redevelopment of a single-tenant flex building.
The borrower, a repeat client with extensive experience in construction and project management, will undertake a full renovation of the property to meet the specifications of an incoming tenant. Given the project's scope, construction-to-permanent financing with flexible terms was essential to ensure successful execution.
Leveraging his deep relationships with regional lenders, Phillips identified a tailored financing solution that met the sponsor’s needs, providing an extended interest-only period and terms that support both construction and long-term ownership.
This transaction highlights Largo Capital’s ability to structure complex commercial real estate loans by leveraging market knowledge and lender relationships.
Tags:
Brokerage
MORE FROM Brokerage
Liberow and Benshar of Asset CRG Advisors arrange $18.1 million ground lease transaction for 358 Flatbush Ave. development site
Brooklyn, NY Asset CRG Advisors recently facilitated the disposition of 358 Flatbush Ave., a Brooklyn development site situated at the intersection of Park Slope and Prospect Heights overlooking Grand Army Plaza and Prospect Park.
Quick Hits
Columns and Thought Leadership
AI comes to public relations, but be cautious, experts say - by Harry Zlokower
Last month Bisnow scheduled the New York AI & Technology cocktail event on commercial real estate, moderated by Tal Kerret, president, Silverstein Properties, and including tech officers from Rudin Management, Silverstein Properties, structural engineering company Thornton Tomasetti and the founder of Overlay Capital Build,
Strategic pause - by Shallini Mehra and Chirag Doshi
Many investors are in a period of strategic pause as New York City’s mayoral race approaches. A major inflection point came with the Democratic primary victory of Zohran Mamdani, a staunch tenant advocate, with a progressive housing platform which supports rent freezes for rent
A fresh start - by Shallini Mehra and Amit Doshi
For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced
Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,
