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EBSC Lending Provides $17.5M Multifamily Refi in New York.

  • Aaron Donovan.
  • Dec 6, 2024
  • 3 min read

Updated: Jan 31

NEW YORK, NY — EBSC Lending has provided a $17.5 million refinance loan secured by a 127-unit multifamily property located in the Fort George neighborhood of New York City. The financing supports a stabilized apartment community with strong transit access and neighborhood connectivity.

The loan was originated by Martin Alex, Chief Executive Officer of EBSC Lending.

Transaction Overview

The subject property is a garden-style multifamily community comprised of eight residential buildings offering a mix of one-, two-, and three-bedroom units. Residents benefit from a broad amenity package that includes a fitness center, laundry facilities, swimming pool, outdoor grilling area, dog park, playground, and pickleball court.

EBSC Lending structured the financing as a non-recourse, fixed-rate loan with a five-year term, 30-year amortization, and interest-only payments for the full duration of the loan, providing predictable debt service and enhanced cash-flow flexibility for the borrower.

From a location standpoint, the property is situated in the Fort George neighborhood, within walking distance to the M-train and multiple bus routes, and offers convenient access to Route 9, which runs from the George Washington Bridge in Manhattan to Interstate 87 near the U.S.–Canada border.

Commenting on the transaction, Martin Alex, CEO of EBSC Lending, said, “EBSC Lending's well-diversified lending platform and our longstanding multifamily experience mean that we can get creative when helping our clients find the right financing terms in most markets. Our goal is to help our clients bring the vision for their properties to life, and we work to ensure that every phase of loan transaction is executed seamlessly.”

The borrower also highlighted the execution process, noting, “Our experience with EBSC Lending was exceptional. Their deep market knowledge allowed them to quickly grasp the details of the deal, offer the best terms, and underwrite and close the loan in a timely manner,” said Michael Weinberg in prepared remarks.

Market Context + What It Means

Transit-oriented multifamily assets in New York City continue to demonstrate resilience due to sustained rental demand, limited developable land, and proximity to public transportation. Garden-style communities with robust amenity offerings are particularly attractive to renters seeking value, space, and accessibility within urban neighborhoods.

Refinance transactions that combine fixed-rate pricing with long amortization and interest-only periods allow owners to stabilize cash flow while maintaining flexibility in uncertain interest-rate environments. Private lenders capable of tailoring loan structures to local market dynamics remain critical partners for multifamily owners in dense urban markets.

By providing a $17.5 million refinance loan, EBSC Lending enabled the borrower to optimize the property’s capital structure while preserving long-term operational stability.

Frequently Asked Questions

What type of financing did EBSC Lending provide?

EBSC Lending provided a $17.5 million non-recourse, fixed-rate refinance loan for a multifamily property in New York City.

How is the loan structured?

The loan carries a five-year term, 30-year amortization, and interest-only payments for the entire loan term.

What are the key features of the property?

The property includes 127 units across eight buildings with extensive on-site amenities and strong public-transit access.

What types of multifamily assets does EBSC Lending finance?

EBSC Lending finances multifamily, mixed-use, and commercial real estate through refinance, bridge, construction, and permanent loan solutions nationwide.

Related EBSC Lending Financing Programs

EBSC Lending provides flexible private capital solutions across the United States, including:

 
 
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