How to take some $$$ from our tenement property in Manhattan, NYC?

My two brothers and myself inherited our parent’s 5-story, 12-unit apartment building on the vibrant west side of Manhattan, NYC over four years ago. We also have a commercial tenant on the ground floor (a successful restaurant). Almost three years ago we took out a 7-year $ 1 million mortgage on this property (and our building pays around $ 9,500 per month for this mortgage) and I was happily able to retire on the $ 300K I pocketed. We have recently discussed what more we can now do to get another nice chunk of $ $ . This past year we were able to take an annual total of approximately $ 24K each from the building’s profits (our rent-roll totals around $ 25K per month). All three of us agree that attempting to sell the building right now in this terrible economy is not an option. MY suggestion was that we refinance our mortgage as interest rates are low now. However, one of my brothers feels uncomfortable doing that because (a) we would have to pay around $ 80K outright just to take care of the first mortgage, in addition to paying closing costs, fees, etc., and (b), although he feels that the building would be able to pay the higher monthly mortgage payment, he feels uncomfortable about leveraging our building for over $ 2 million, especially when right now all property values are low. He would prefer for us to just continue taking our monthly $ $ $ from the building’s profits. My answer to that is that this current terrible economy is hopefully a temporary anomaly and that property values will rebound in a year or two. The three of us are in our 60’s and I feel that tomorrow is promised to no one, and we should enjoy as much money as we can while we are still healthy enough to. I am the only brother who REALLY needs a financial shot in the arm now; they don’t. I expressed to my brother that his discomfort level shouldn’t deny us in getting another nice chunk of money each. Is there any method of perhaps having a bank give us a “mini-loan” allowing just me to get around $ 100K? Does anyone have any idea how we can safely get more $ $ $ from this valuable property, instead of just taking “nickels and dimes” per month from the building’s profit? Perhaps there is some way that I could somehow take $ 100K from the building without jeopardizing the financial integrity of the building, if my two brothers agree to that method? Thank you.

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