301 Washington Avenue,
Brooklyn, NY 11205

REFINANCING OF 301 WASHINGTON AVENUE

Property Appraised Value (March 2025): $6,200,000

Borrower: Experienced real estate professional with a strong balance sheet, exceptional credit score and ample liquidity.

Loan Request: Short-Term Bridge Financing / Take-Out Loan of Approximately $3,000,000.

Purpose: Retire existing loan and exit litigation.

Summary of Existing Mortgage

The property loan originated in 2006 as a HELOC from First Central Savings Bank (FCSB) under the borrower’s personal name, with the title held by Etienne Estates at Washington LLC (EEW) .

Exit Strategy

• Once takeout loan is procured, the borrower will seek to secure long-term traditional financing by either transferring the property to a clean title or demonstrating a sufficient payment history. If traditional financing is delayed, alternative options may include refinancing other properties or using proceeds from their sale to pay off the loan in full.

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Should a refinance not occur by Monday, April 28th an auction sale of the property will be held on Wednesday, April 30^th