Greenpoint Commercial Bldg.

Property Description

Joe Berko and Michael Korine, of Berko & Associates have successfully negotiated $2 million financing for 190 North 14th Street, a newly renovated commercial building in Greenpoint, Brooklyn. Located in the industrial section of the neighborhood, the asset was gut rehabbed and converted from a warehouse shell to its current use.

“The transaction was challenging due to the composition of the property, which included a Retail Space on the Ground Floor, office spaces on the upper floors and a high-end residential portion at the top levels” said Korine, a managing director of Berko & Associates Capital Markets., the financing arm of the company. “The financing was arranged through a national lender that appreciated the high quality of the asset and the solid experience and track record of the sponsors”, said Joe Berko, the firm’s president.