New York City — Commercial mortgage brokerage firm Eastern Union Funding announced that it has arranged $4.9M in financing for multifamily property in Queens, NY.

Eastern Union has negotiated $4.9M in financing for multifamily property on 42nd Ave in Queens, NY. The loan was arranged by Nate Hyman and David Metzger, managing directors.

The property is a four story elevator building comprised of 41 residential units.

The loan was provided by Suffolk County National Bank, and featured a term of 7+3 year term 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.