Signature Bank provides $27.5 million of new debt for nine multi-family properties

New York, NY New York City based Alchemy Ventures has recapitalized a portfolio in Brooklyn, NY, consisting of nine buildings and 113 residential units, for $36 million. Simultaneously, they secured a new financing loan for the portfolio from Signature Bank totaling $27.5 million. The 5-year loan was provided has a 4.125% interest rate with three years only incumbering the following assets: 216 Macon St., 1050 Lafayette Ave, 223 Bainbridge St., 475 Hancock St., 442 Decatur St., 45 Kingston Ave., 910 Prospect Pl., 788 Madison St., and 790 Madison St.

"We successfully paid off existing debt and secured a new financing for our Brooklyn portfolio by executing a value-add strategy for these nine assets. We renovated these properties and also plan to implement a capex business plan over the next six months to continue improving the buildings and modernizing apartments," said Sam Kooris, principal of Alchemy Ventures and Alex Horn, principal of Alchemy Ventures in a joint statement.

Tags: Brokerage

Reprint

Previous Story Next Story

Meridian Capital Group arranges 10-year retail lease for Mess at 236 West 10th St.

Manhattan, NY According to Meridian Capital Group, Jordan Langer, Noam Aziz and Carson Shahrabani of the firm’s retail leasing team have arranged a five-year lease at 236 West 10^thSt. in Greenwich Village

Houlihan Lawrence Commercial sells residential development site for $2.1 million

Houlihan Lawrence sells development site for $2.1m

GFP Real Estate signs Knit Illustrated to 4,051 s/f five-year lease at 247 West 37th St.

GFP R.E. signs Knit Illustrated to 4,051 s/f at 247 West 37th St.

The Feil Organization signs 15-year, 46,000 s/f renewal with Thompson Coburn LLP at 488 Madison Ave.

Feil signs 46,000 s/f renewal with Thompson Coburn at 488 Madison Ave.

Cushman & Wakefield arranges 16,051 s/f lease at 125 Broad St. to Harris Trzaskoma, LLP

C&W arranges 16,051 s/f lease at 125 Broad St. to Harris Trzaskoma

READ ON THE GO

DIGITAL EDITIONS

Browse Now

Quick Hits

Construction Design & Engineering

EP Inspections + Commissioning delivers special inspections for Hinomi’s showroom

Columns and Thought Leadership

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

Lasting effects of eminent domain on commercial development - by Sebastian Jablonski

The state has the authority to seize all or part of privately owned commercial real estate for public use by the power of eminent domain. Although the state is constitutionally required to provide just compensation to the property owner, it frequently fails to account

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,

Behind the post: Why reels, stories, and shorts work for CRE (and how to use them) - by Kimberly Zar Bloorian

Let’s be real: if you’re still only posting photos of properties, you’re missing out. Reels, Stories, and Shorts are where attention lives, and in commercial real estate, attention is currency.