Marcus & Millichap Capital Corporation (MMCC), a leading provider of commercial real estate capital markets financing solutions, has arranged a $34.4M interest-only bridge loan to refinance a 117-unit multifamily property and 4,000-square-foot commercial unit in Brooklyn’s Williamsburg neighborhood.

Originally built and used as a pencil factory, the property was redeveloped in 2012 into a luxury loft-style multifamily property that highlights the original industrial finishes of the building. The five-year loan, provided by a private lender, was structured with three years of interest-only, a 3.65% interest rate and 75% loan-to-value. The loan was negotiated by Steven Rock who is based in the company’s White Plains office.

“The financing allows the borrower to continue their strategic lease-up program to stabilize this iconic asset,” said Rock.

About Marcus & Millichap Capital Corporation

Marcus & Millichap Capital Corporation (MMCC) is a subsidiary of Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada. MMCC provides commercial real estate capital markets financing solutions, including debt, mezzanine financing, preferred and joint venture equity and sponsor equity as well as loan sales and consultative and due diligence services. In 2019, MMCC closed over 1,900 transactions totaling $7.1 billion. To learn more, please visit: www.mmCapCorp.com.