Eastern Union Arranges $28M Construction Loan for Multifamily Project in Monroe, New York
MONROE, N.Y. — New York City-based finance firm Eastern Union has arranged a $28 million construction loan for a 159-unit multifamily project in Monroe, located about 60 miles north of Manhattan. The loan was structured with a 24-month term and a 75 percent loan-to-cost ratio. Abraham Bergman and Yossi Orzel of Eastern Union originated the financing. The direct lender was a New Jersey-based bank, and the borrower was a local family office.