Phillips of Largo Real Estate completed a $1.85 million refinance

Arcade, NY Jack Phillips of Largo Real Estate Advisors, Inc. closed a $1.85 million permanent first mortgage to refinance the existing debt and closing costs for a 32-unit multifamily property.

Built in 2005 and currently 97% occupied, this well-established multifamily property serves as a key residential asset in the rural Arcade community. The loan was secured through a credit union, offering the sponsor long-term stability and competitive terms.

Recent capital improvements—including new flooring and updated unit interiors—have further enhanced the property’s appeal. This transaction reflects Largo’s continued ability to provide customized multifamily financing solutions across Upstate New York.