NEW YORK, NY – June 2, 2017 – Ariel Property Advisors’ Capital Services Division recently arranged cash-out, refinance loans for two multifamily properties totaling $3.75 million. The properties are located at 213 and 215 Ralph Avenue in the Bedford-Stuyvesant section of Brooklyn.

213 Ralph Avenue – The Division arranged a $1.55 million, 5-year non-recourse, fixed-rate loan at 3.68% for the 8 unit, 5,720 square foot multifamily property. The property is situated in Bedford-Stuyvesant, one of the most vibrant neighborhoods in New York City.

215 Ralph Avenue – The Division arranged a $2.2 million, 5-year non-recourse, fixed-rate loan at 3.75% for the 8 unit, 5,720 square foot multifamily property. The building is also located in Bedford-Stuyvesant.

“The 215 Ralph Avenue loan equates to roughly 85% of the owner’s cost basis in the building, which is above-average and indicative of strong appreciation in the market,” said Matt Dzbanek, Director at Ariel Property Advisors. “As the lending landscape tightens, there are still new lenders, both individual and institutional, that have an enormous appetite for financing transactions such as the ones on Ralph Avenue.”