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New York & Tri-State  + Outer  + Finance  | 

Bed-Stuy MXU Quartet Scores $6.5M Refi

Ariel Property Advisors’ capital services division has arranged a $6.5-million loan for four properties in Brooklyn’s Bedford-Stuyvesant neighborhood. The borrower, who was not identified, used proceeds to pay off four existing loans and get additional capital for future investments.

Led by Ariel’s Paul McCormick and Matt Dzbanek, the division arranged a five-year, 75% loan-to-value cash-out refinance. “In an environment where lenders are pulling back from lending on smaller loans, we were able to work with our relationships to not only get the most aggressive proceeds, but also the best structure for the client,” Dzbanek said.

The Bed-Stuy building quartet includes 22 residential and six commercial units. Approximately 30% of the owner’s gross income comes from commercial leases; only two of the properties have more than five residential units.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Financing