Spiegel of Spiegel Associates closes $4.65 million construction/permanent loan

Brooklyn, NY Sidney Spiegel of Spiegel Associates has arranged a $4.65 million construction/permanent loan for a multifamily property. The loan was funded by a regional bank that saw the value of the project to the community.

The property, located on Lorimer St., when completed, will be a six story, 8,500 s/f elevatored multifamily building totaling five residential units and one commercial unit. The residential units will range from 1,408 to 1,612 s/f and will have balconies and some will be duplex units.

The property has views of McCarren Park and also of the New York City skyline.

Spiegel Associates works closely with union pension plans, insurance companies, conduits, commercial banks, and local savings banks to provide competitive rates and terms for all types of commercial real estate. Spiegel Associates’ expertise and relationships with a variety of funding sources provides solutions to the financing needs of investors and developers.

Tags: Finance

Reprint

Previous Story Next Story

The Domain Cos. closes on $175 million financing with Wells Fargo to deliver 400 housing units

Queens, NY The Domain Companies closed on $175.6 million in financing with Wells Fargo for a new mixed-income housing project called Elara, which will deliver 429 new apartments in one of the city’s fastest-growing neighborhoods. “Astoria is one of New York’s most vibrant and culturally rich neighborhoods, and it has long held a special place in Domain’s history.