BROOKLYN, NEW YORK, USA, June 15, 2021 /EINPresswire.com/ — ZP Realty Capital LLC, also known as Zev Pollak Co LLC, is happy to announce that it has recently arranged new mortgage financing for four multifamily buildings package in the borough of the Bronx in NYC.
Led by Zev Pollak, ZP Realty Capital LLC is a privately held real estate company in Brooklyn, New York. The company has a established a reputation for negotiating favorable financing terms for properties throughout the U.S.
The new mortgage financing is in the aggregate amount of $30,400,000 with and average rate of 3.125% for a 10-year period with 30 years amortization schedule.
The loan was placed with a New York's balance sheet lender.
The package consists of four multifamily buildings comprising a total of 278 units, in a work force neighborhood of Pelham parkway area of Bronx New York. The buildings are well kept and professionally managed. The proceeds will be used to further improve the properties, and to replace the existing higher rate debt.
The financing was arranged by Zev Pollak, President of ZP Realty Capital LLC.
In addition, ZP Realty Capital LLC arranged a new first mortgage financing in the amount of $3,500,000 for 50% sold coop in Brooklyn NY. The loan was for a 12 years period at 3.25% fixed rate. The coop will use the proceeds for capital improvements, and to replace the existing debt.
The loan was placed with a local NYC lender.
“The ability to execute the closings in a timely fashion by our officers was the key to success with these loans,” notes Zev Pollak.
“The borrowers were particularly pleased with the creativity and dedication to detail while working remotely.”
ZP Realty Captal LLC
email us here
Source: EIN Presswire