Carver Federal Savings Bank Provides $1.64M Refinance Loan for Multifamily Property in New York City

In a recent deal, Carver Federal Savings Bank has provided a $1.64 million refinance loan for a multifamily property located at 372 Palmetto Street in New York City. The property, owned by Asher Pashkes, consists of 3,120 square feet and features 3 units. The loan was arranged by brokers Peter Cohen, Joseph Hach, and Max Goveia of Refined.

Located in the heart of New York City, the property is situated in a prime location with easy access to transportation, shopping, and dining options. The multifamily property offers a unique investment opportunity in a highly sought-after market.

Asher Pashkes, the landlord and owner of the property, has a strong track record in the real estate industry. Pashkes has successfully managed and operated multifamily properties in New York City for over a decade. With this refinance loan, Pashkes will be able to take advantage of favorable interest rates and improve the property’s cash flow.

Carver Federal Savings Bank, a community development financial institution, specializes in providing loans to underserved communities. The bank’s mission is to promote economic development and homeownership in low-income neighborhoods. By providing this refinance loan, Carver Federal Savings Bank is supporting the growth and stability of the local community.

The loan was arranged by brokers Peter Cohen, Joseph Hach, and Max Goveia of Refined. Refined is a leading commercial real estate brokerage firm in New York City, known for its expertise in multifamily properties. Cohen, Hach, and Goveia have a strong network of lenders and investors, allowing them to secure competitive financing options for their clients.

This deal highlights the continued strength and demand for multifamily properties in New York City. Despite the challenges faced by the real estate market in recent years, multifamily properties have remained a resilient asset class. The city’s population density and high cost of living make multifamily properties an attractive investment option for both local and international investors.

Overall, the refinance loan provided by Carver Federal Savings Bank will help Asher Pashkes maximize the potential of the multifamily property at 372 Palmetto Street. With the support of Refined and the favorable terms of the loan, Pashkes can continue to generate steady rental income and contribute to the growth of the local community.