Leslie and Rhea of Cushman & Wakefield arrange $12 million East Village refinancing

111-113 East 12th Street -
East Village - Manhattan, NY

Manhattan, NY Cushman & Wakefield has secured a $12 million loan for 111-113 East 12^th St., located between 3^rd and 4^th Aves. in the East Village. The loan featured a five-year term at 3.25%, with a 30-year amortization schedule. Cushman & Wakefield’s John Leslie exclusively handled the transaction with Patrick Rhea. The lender was BankUnited.

John Leslie, Cushman & Wakefield

“We were able to recapitalize some existing debt with a rate and term far more attractive, and put the owner in a better position to leverage the property in the future. Overall everyone was very happy with the result,” said Leslie.

The contiguous mixed-use buildings total 22,473 s/f and are divided into 16 residential units and two commercial units.

111-113 East 12^th St. benefits from close proximity to popular dining and nightlife options and can be easily accessed via the L train line at the 3^rd Ave. station.