NEW YORK – Commercial mortgage brokerage firm Eastern Union Funding announced that it has arranged $2.7M in financing for a multifamily property on Willoughby Avenue in the Bedford-Stuyvesant section of Brooklyn.
The loan was arranged by David Metzger and Nate Hyman, managing directors.
The five year loan, consisting of a large cash-out, was provided by Ridgewood Savings Bank. The loan features a 5 year option and 30 year amortization.
Eastern Union Funding is the country’s second-largest privately owned commercial mortgage company, on a transaction volume basis, serving the national commercial real estate sector. Specializing in loans up to $50 million, Eastern Union works closely with a wide spectrum of lenders to finance transactions for multifamily, office, retail, hotel, healthcare, industrial, construction, co-op and self-storage properties. The company has offices in New York, New Jersey, and Maryland.