BROOKLYN, NY – December 17, 2014: All eyes are on Brooklyn for Eastern Union Funding, one of the fastest growing commercial real estate brokerages serving the national sector, as it closes its 239th deal there in 2014.
Eastern Union’s top two producers, Eli Breiner and Michael Muller teamed up to contribute the company’s outer-borough dénouement, negotiating $6,862,500 to refinance a multifamily property, located at 3100 Brighton Street. The property is owned by Herald Management.
The five year loan closed with a three and a quarter interest rate without recourse. It was provided by a regional balance sheet lender.
“The story-line keeps repeating itself. People are locking in these three percent rates while the market is still hot,” Breiner said. “The same way you fill up the tank when gas prices plummet 20 cents—just add a lot more zeros to the end of these figures, and that’s what’s happening with interest rates today.”
About Eastern Union Funding: Founded in 2001, Eastern Union Funding is a leading national commercial mortgage brokerage firm, employing over 100 real estate professionals who, using their extensive knowledge of the market, share lender and market data and utilize state-of-the-art proprietary technology to capitalize on deep relationships with more than 85 local and national lenders. Eastern Union’s real estate professionals bring clients the very best rates and terms the market has to offer, acting as trusted advisors who operate on the simple premise that client needs come first. Eastern Union’s arsenal of lending sources enables the company to arrange financing for complex, multi-state, multi-site portfolios, as well as loans for smaller, single-property transactions. The company consistently places an average of a quarter of a billion in new loans every month. Eastern Union, which operates nationwide, is headquartered in New York, with offices in New Jersey and Maryland. For more information, please visit: http://www.easternuc.com/.
# # #