Brickstone Capital successfully arranged a $3.4 million cash-out refinance for a fully rent-stabilized mixed-use property located on Astoria Boulevard in Astoria, New York. The property includes five retail stores, adding a commercial component to the rent-stabilized building. Despite the complexities often associated with rent-regulated properties, our team secured competitive financing at a 6.25% interest rate.
Transaction Highlights
- Loan Amount: $3,400,000
- Transaction: Cash-Out Refinance
- Interest Rate: 6.25%
- Term: 5+5 years
- Amortization: 30 years
- Property Type: Fully rent-stabilized mixed-use building
- Commercial Space: Five retail stores
- Location: Astoria Boulevard, Astoria, New York
This closing demonstrates our ability to structure commercial real estate financing for properties with rent stabilization, retail space, and other characteristics that may require a more experienced approach. If the objective is to access equity, refinance existing debt, improve cash flow, or secure capital for another investment, we work to identify financing solutions suited to each property and borrower.
Contact Brickstone Capital to discuss financing for your next commercial real estate transaction.
