| Home | May 2013News | Terrace Capital, Inc. Announces- $8MM Non-Recourse Commercial Mortgage- Class A Office - Brooklyn, NY |
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 Terrace Capital, Inc. Announces- $8MM Non-Recourse Commercial Mortgage- Class A Office - Brooklyn, NY- Terrace Capital, Inc. Announces- $8MM Non-Recourse Commercial Mortgage- Class A Office - Brooklyn, NY
- May 30, 2013
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The proceeds of this $8MM, 75% loan-to-value mortgage was used by the borrower, 1733 Sheepshead Bay, LLC, for the repayment of existing debt and equity for the development of several new projects in Brooklyn.
The non-recourse, mortgage had a 10 year fixed term and a 30 year amortization schedule. The project sponsors look forward to continuing their notable track record of developing Class A multifamily and office properties in Brooklyn.
The project, a Class A, 30,000 s.f. office complex, is located along Sheepshead Bay road in the Sheepshead Bay section of Brooklyn, NY. The current configuration of the building improvements results from the redevelopment of an obsolete building, which was ori...
- View more at: http://www.1888pressrelease.com/terrace-capital-inc-announces-8mm-non-recourse-commercia-pr-473707.html
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