240 Meeker Ave.in Williamsburg, Brooklyn/ Image: Google Maps
NEW YORK CITY—A 46-unit, post-war multifamily building at 240Meeker Ave. in Williamsburg, Brooklyn received $19.6 million infinancing from Fannie Mae. Stewart Campbell of Berkadia's Manhattanoffice secured the financing on behalf of the borrower, NewYork-based 240 Meeker Ave. Corporation headed by CEO PaulGrosman.
The 10-year, permanent loan has a 4.37% fixed-interest rate.“The new loan financing provided a great long-term rate whilemaximizing proceeds and property cash flow with 72 months ofinterest-only payments,” says Campbell. Berkadia is a joint ventureof Berkshire Hathaway and Jefferies Financial Group.
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Betsy Kim
Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.
