TD Bank Provides $19.8M Loan For Multifamily Properties In The Bronx And Queens

The Mehta & Singh Families have secured a loan of $19,795,000 from TD Bank for the acquisition of multiple properties in the Bronx and Queens. The properties involved in this multifamily transaction include 1104 Manor Avenue, 1111 Gerard Avenue, 2150 Wallace Avenue, 675 East 233 Street, and 8820 Woodhaven Boulevard. This loan was finalized on March 26, 2021, and carries a 10-year term with a fixed interest rate of 2.54%. The loan has a 10-year amortization period.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $19,795,000
• Lender: TD Bank
• Landlord: Mehta & Singh Families
• Broker: Simon Rosenfeld - Meridian Capital Group

Simon Rosenfeld, a representative from Meridian Capital Group, facilitated the deal as the broker. Through their involvement, the Mehta & Singh Families were able to secure financing from TD Bank to acquire these multifamily properties located in the Bronx and Queens.