Korine Procures Financing for Greenpoint Mixed-Use

Korine, Managing Director, Finance & Capital Markets, at Berko & Associates has arranged for a $2 million refinance with a very competitive rate for a mixed-use building in the fast-growing Greenpoint section of Brooklyn. The financing was challenging due to the composition of the property, which included a Retail Space on the Ground Floor, office spaces on the second floor, and a residential duplex penthouse unit located in an industrial neighborhood. A number of lenders had an issue with the composition and stacking of the leases so the financing was arranged with a local lender who was very receptive and excited about the excellent quality of the building’s construction and management. The building had been gut rehabbed from a warehouse shell to its current use in 2010.