Eastern Union, one of America's largest commercial real estate mortgage brokerages, secured a $33.84 million loan to help finance the purchase of a four-story, 144,263-square-foot medical office building located at 6201 15th Avenue on the corner of 62nd Street in the Borough Park neighborhood of Brooklyn.
The 144,263-square-foot figure represents the property's net rentable area; its gross square footage equals 147,520 square feet.
The acquisition carried a sale price of $42.3 million, with the mortgage representing an 80 percent loan-to-value ratio. With stepdown prepayment penalties, the loan has an interest rate of 5.55 percent over a five-year term based on a 25-year amortization schedule. The borrower was not identified. The lender was Webster Bank.
The reinforced concrete frame structure, with fixed casement windows, was fully renovated in 2010. It occupies a 0.83-acre parcel of land. The property includes a 0.19-acre ancillary surface parking lot with 25
