Friday, July 28, 2017

HFF arranges $28 million refinancing for mixed-use building in Brooklyn’s Boerum Hill

110 4th Avenue, Boerum Hill Neighborhood, Brooklyn, NY

NEW YORK, NY -– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged a $28 million refinancing for 110 4th Avenue, a mixed-use multi-housing, retail and office building in Brooklyn’s Boerum Hill neighborhood.

HFF worked on behalf of the borrower to secure a 10-year, fixed-rate, interest-only loan, which represented an estimated 75 percent loan to value.

Scott Aiese
110 4th Avenue has a mix of 49 studio, one- and two-bedroom residential units and 5,197 square feet of retail/medical office space on the ground floor.  Amenities include a concierge, common room and fitness center with most units featuring balconies and/or in-unit washers and dryers. 

Situated less than half of a mile southwest of Barclays Center, the property is near multiple subway stations, including the D, N, R, 2, 3, 4, and 5 trains.  The 100-percent-leased property was completed in 2007 and is subject to a 421a tax abatement.

The HFF debt placement team representing the borrower was led by managing director Scott Aiese.

“In a deal that had complicated rent abatements burning off over time, HFF sourced a group that was able to fully understand the intricacies of the underwriting and perform extremely well for the client, which is a testament to the quality of both the sponsor and the asset,” Aiese said.

 For a complete copy of the company’s news release, please contact:

Olivia Hennessey
Public Relations Specialist
HFF | 9 Greenway Plaza, Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax 713.527.8725 |

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