Bethpage Refinances Medical Office Building

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Title : Bethpage Refinances Medical Office Building

Bethpage Refinances Medical Office Building

Bethpage Federal Credit Union (Bethpage, NY) provided a $28 million commercial mortgage to refinance an eight-story 72,000-square-foot medical office building in Brooklyn.

New York developer David Marx of Marx Development Group received the loan.

The loan has a five-year term with a fixed-rate of 4.25 percent.

To date, this is the largest loan to be closed by Bethpage Federal Credit Union.

Do real estate developers need taxpayer subsidized loans?

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