NEW YORK CITY—Eastern Union Funding has arranged a $19.5 million acquisition loan for the $26 million purchase of a Brooklyn recording studio, pub, and artist compound. The firm was working on behalf of the buyer, operating as 270 Meserole Street LLC.
To facilitate this transaction, Eastern Union's Jeff Seidenfeld negotiated a $19.5 million five year loan. Financing was arranged with Investors Bank, for the property which is located at 260-272 Meserole.
“This asset is unique and there's a huge amount of excitement surrounding the project locally,” Seidenfeld said. “The property is positioned to perform very well, and we worked out the appropriate financing solution based on its strength.”
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
