HKS Capital Partners announced the funding of a $19 million refinance of three contiguous Manhattan commercial buildings comprised of 18 retail units and 19 office units at a four percent fixed rate loan for a seven year term.
The properties, all located in the Chinatown neighborhood of Manhattan, New York include: A building with nine commercial condos and exterior billboard space situated in an eight-story commercial building;
A three-story commercial property comprised of seven retail units, fourteen office units and exterior billboard space; A four-story commercial property comprised of two retail units, five office units and exterior billboard space.
Refinance proceeds will be used to replace the existing mortgage and replace the existing term, according to Jay Stern who negotiated this transaction for HKS Capital Partners, along with Daniel Kowalsky.
