HFF has recently arranged a $28 million refinancing for the mixed-use building located at 110 4th Ave. in Brooklyn’s Boerum Hill. The firm placed the 10-year, fixed-rate, interest-only loan covering 75 percent of the property value with Jefferies LoanCore LLC, per PropertyShark data.
A debt placement team led by HFF Managing Director Scott Aiese represented the borrower. The team had their work cut out for them, but “HFF sourced a group that was able to fully understand the intricacies of the underwriting and perform extremely well for the client, which is a testament to the quality of both the sponsor and the asset,” Aiese said in a statement.
The property incorporates 49 studio, one- and two-bedroom apartment units and more than 5,000 square feet of retail and medical office space on the ground floor. Many of the residential units feature balconies and/or washers and dryers. Additionally, the building is conveniently situated less than half a mile southwest of Barclays Center, and offers easy access to various nearby subway and train stations. The property is 100% leased and subject to a 421a tax abatement.