Ariel Property Advisors arranged an $11.57 million refinance loan for a 61-unit portfolio comprised of six mixed-use buildings in the Mott Haven neighborhood of the South Bronx.
A team at Ariel Capital Services Group, led by Senior Director Matt Swerdlow, along with Senior Director Matthew Zvanek and Associate Anthony Priest, secured the financing on behalf of the borrower. A national multifamily lender offered a non-recourse loan with very favorable terms: 5.35% interest rate, 5 years of interest-only payments, and 7 years of fixed interest.
“This transaction highlights Ariel’s strong, long-term relationships with both its borrowers and lenders,” Swerdlow said. “Leveraging our extensive knowledge of the South Bronx market as well as our deep understanding of lender capabilities, our team was able to secure below-market financing terms for this portfolio. This is the second financing agreement we have closed with this borrower for a total of $20 million, and we are proud to continue our strong relationship.”
The Mott Haven area has experienced a significant surge in both residential and commercial development in recent years, making it an attractive area for investors and developers alike. Ariel Property Advisors has been at the forefront of many major transactions in the South Bronx and has helped transform this vibrant community.
Note: For more information on the Bronx investment sales market, see Ariel Property Advisors’ Bronx 2024 Mid-Term Commercial Real Estate Trends Report and Q3 2024 Multifamily Neighborhood Review New York City.
About Ariel Property Advisors
Ariel Property Advisors is a New York City-based commercial real estate services and advisory firm offering expertise in three core areas: investment sales, capital services, and research and advisory. Our investment sales group specializes in all major commercial asset types throughout the New York metropolitan area, our capital services group provides tailored financing solutions to clients nationwide, and our research and advisory team provides timely market reports. to empower both our professionals and our customers. Additionally, our recent strategic partnership with GREA (Global Real Estate Advisors), a national network of independent real estate investment services firms, further expands our reach and capabilities. For more information, visit arielpa.nyc.
