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| 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.
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| Scott Aiese |
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 | hfflp.com
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