Ariel Property Advisors’ Capital Services Group recently facilitated over $17 million in loans for six properties located in Brooklyn and Manhattan. Senior directors Matthew Dzbanek and Matt Swerdlow were responsible for arranging the financing.
The six loans included:
– A $4.4 million construction loan for a townhouse conversion project in Carroll Gardens, Brooklyn
– A $4.4 million construction loan for a four-unit condo building in Greenpoint, Brooklyn
– A $3.2 million refinancing loan for a retail property with triple net leases located in Greenwich Village
– A $2.5 million refinancing loan for a free-market multifamily building with six units situated in Greenpoint
– A $1.5-million refinancing loan secured against a four-unit free-market multifamily property located within Prospect Lefferts Gardens, Brooklyn
-An acquisition of vacant mixed-use property consisting of three units through an acquisition worth approximately 1/10th of the total amount financed by Ariel Property Advisors’ Capital Services Group.
According to Dzbanek, “We are seeing an increase of lenders returning to the New York market.” In recent weeks alone they have successfully secured financing from multiple residential projects including two condominium developments as well as one rental development that attracted over fifteen quotes each due to their strong potential within today’s housing market.
