Brooklyn Bridge. Shutterstock.
NEW YORK CITY- Helmsley Spear, a1 866-founded real estate firm founded has arranged a refinancing transaction for Kings Hotel, located at 2416 Atlantic Ave. in Brooklyn.
The loan was co-structured with Coronado Bay Capital with Crown Bank-provided financing. The fixed-rate loan was arranged for $9.5 million and the term of the loan is for 10 years with monthly payments based on a twenty-five-year amortization schedule.
"This was a complicated transaction that we are pleased to have closed and thank all parties for their cooperation to successfully close this refinancing," said Showket Ahamed of Helmsley Spear, who was the exclusive agent for the listing.
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Mariah Brown
Mariah Brown is the New York Bureau Chief and Real Estate Reporter for GlobeSt.com, covering the New York Metro area, Northeast region and national real estate trends. She is responsible for producing multi-media content, including articles, podcasts and video. Before joining the GlobeSt team, she served as a New York Times fellow, reported for the Associated Press in New York and Philadelphia and several other New York City-based outlets.
