Volpe of Highcap Group arranges three loans totaling $9.85 million in Brooklyn

Brooklyn, NY Michael Volpe, director of finance for Highcap Group has arranged three financing transactions totaling $9.85 million. The mortgages include:

• 198 St. Nicholas Ave. – Construction financing for a six-unit residential building for $3 million. The loan is interest-only at 2% over prime for 24 months.

• 5015 4th Ave. – Refinance of an eight-unit apartment building for $850,000. The loan has an interest rate fixed at 4% for five years based on 30-year schedule.

• 340 Metropolitan Ave. – Construction financing for a 10-unit condo development, plus retail for $6 million. The loan is interest only at 2% over prime for 30 months.

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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.