Permanent Loan - Refinance
- 200 Unit Apartment Complex
- Queensbury, NY
Axiom Capital Corp. has arranged $7,500,000 in permanent financing for the refinance of an apartment community in Queensbury, NY. The loan was self-amortizing over 15 years at a fixed rate and demonstrated a sub 55.0% LTV at the time of closing.
The property is nestled in a pristine natural setting in the foothills of the Adirondacks featuring spacious 1- and 2-bedroom apartments with walk-in closets, central air conditioning, eat-in kitchens with dishwasher and great on-site amenities such as laundry facilities, swimming pool, picnic area and a cozy clubhouse/lounge.
The Property is right off NYS Route 9 and is less than a mile from Interstate 87 (Adirondack Northway). NYS Route 9 is one of Queensbury’s primary commercial corridors. The Property’s location offers easy access to much of the greater Capital District and Lake George Area including employment, shopping, cultural, entertainment and transportation centers.