ERG Commercial Real Estate has successfully arranged a $16.5 million loan to refinance two mixed-use buildings located at 65 and 67 Greene Street in the highly coveted neighborhood of SoHo. These adjacent properties, spanning over 21,000 square feet, are strategically situated on one of SoHo’s most desirable retail corridors.
The buildings boast full occupancy with a diverse tenant mix including Norrona’s flagship New York City store and PatBo clothing stores. ERG expertly secured a five-year fixed mortgage through a reputable bank with an attractive two-year period for interest-only payments.
According to Ryan Lewis from ERG who skillfully negotiated the loan on behalf of the borrower, “We were able to secure an advantageous five-year fixed mortgage from a top-tier bank while also securing two years of interest-only payments.” The primary focus was on achieving maximum proceeds for our client which we accomplished by structuring both first position mortgages as well as second position lines of credit. This successful transaction further solidifies ERG’s expertise in arranging financing solutions for commercial real estate projects.
