2981 Third Avenue & 737 Flatbush Avenue

Location: New York, NY
Type: Retail
Price: $ 4,850,000

SMC has provided a $4,850,000 loan to facilitate the acquisition of 2981 Third Avenue & 737 Flatbush Avenue. The collateral is comprised of two mixed-use properties containing 16,048 SF in the Brooklyn and Bronx Boroughs of New York, NY. 2981 Third Avenue is a three-story, 11,400 SF mixed-use property containing three retail tenants and two office tenants. 737 Flatbush Avenue is a three-story, 4,648 SF mixed-use property containing two retail tenants and two 4BR apartments. The proceeds of the loan will be used to refinance existing debt of $2,100,000 of seller financing and $900,000 with Carvet Bank.