Marcus & Millichap Capital Corp. Arranges $1.5 Million Loan for Four-Story Mixed-Use Apartments and Retail Building in Brooklyn, NY

NEW YORK, NY– Marcus & Millichap Capital Corporation (MMCC) has arranged a $1,500,000 25-year fixed-rate loan for the purchase of a 13,000-square foot apartments building in which 2,500-square feet is retail. The property is located at 825-29 Flatbush Avenue (top left photo) in Brooklyn, New York.

Gerald Kray (lower right photo), a Senior Director at the firm’s Manhattan office had arranged the financing package for this mixed use building.

Financing for this transaction was provided by a Savings Bank at the five year fixed rate of 4.75 percent reset every five years and a 25-year amortization schedule. Loan to value was 60 percent.

Press Contact: J.D. Parker, Vice-President and Regional Manager, New Haven, (203) 672-3300