New York City -- Eastern Union has negotiated $3M in financing for mixed-use property on Eastchester Road in the Bronx. The loan was arranged by Nate Hyman and David Metzger, managing directors.
The property, a two-story retail and office building is 53,000 SF, with a Rite-Aid occupying 11,500 of the retail space. The property also includes 44 parking spaces.
The loan was provided by Investors Bank with a 15 year term and 15 year amortization.
Eastern Union Funding is the country’s second-largest privately owned commercial mortgage company, on a transaction volume basis, serving the national commercial real estate sector. Specializing in loans up to $50 million, Eastern Union works closely with a wide spectrum of lenders to finance transactions for multifamily, office, retail, hotel, healthcare, industrial, construction, co-op and self-storage properties. The company has offices in New York, New Jersey, and Maryland.