Eastern Union Arranges $15 Million In Financing For Tri-State Region Industrial Properties
By Mel Fabrikant Wednesday, March 20, 2013, 04:35 PM EDT
Commercial mortgage brokerage firm Eastern Union Funding announced that it has arranged approximately $15 million in financing for industrial properties located in the New York Tri-State region.
Select transactions include:
• $9.8 million to acquire a 50,000-square-foot industrial property on Grand Street in Brooklyn, NY, on a 10 year term, at 4 percent, and 15 year amortization. Ira Zlotowitz and Dov Zabrowsky arranged the transaction. The financing, with Investors Bank, was only possible due to Eastern Union’s strong relationship with the lender, and its ability to arrange creatively structured deals.
• $3.3 million to refinance a 44,000-square-foot industrial property in Bergen County, NJ, on a 10 year term, at 4.05 percent, and 30 year amortization. Eli Breiner of Eastern Union arranged the transaction.
• $2 million to refinance a 20,000-square-foot industrial property on 121st St in Queens, on a 10 year term, at 4.74 percent, and 20 year amortization. Jonathan Singer of Eastern Union arranged the transaction.