Gantry Secures $9M for East Village MF Acquisition 

Gantry, a commercial mortgage banking firm, has arranged a $9 million permanent loan for the acquisition of a mixed-use property at 47 East 7th Street in East Village. The property, consisting of 23 residential units and ground-floor retail space, was acquired by a private real estate investor to fulfill a 1031 exchange requirement. 

The 10-year loan, secured through Fannie Mae and facilitated by Walker & Dunlap, features seven years of interest-only payments followed by three years at a 30-year amortization schedule. Gantry’s Patrick Barkley and Chad Metzger secured the loan on behalf of the borrower, a private real estate investor. 

“Quality, market rate multifamily remains a prioritized allocation for most lenders. Access to Agency loan programs offer apartment investors an additional option for identifying a loan that maximizes both proceeds and leverage at the best available rate.” said Barkley. 

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