Morgan Stanley Provides $77.7M Loan For Bronx Multifamily Portfolio

The multifamily properties located at 1299 Grand Concourse, 2500 University Avenue, 2785 Sedgwick Avenue, 3018 Heath Avenue, 1576 Taylor Avenue, 2505 Aqueduct Avenue, 1264-1270 Gerard Avenue, and 1945 Loring Place in the Bronx have been involved in a recent closed transaction.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $77,700,000
• Lender: Morgan Stanley
• Brokers: Bryan [...]
• Loan Terms: 3.635% (10-year, fixed-rate, interest-only loan)
• Units: 537 (528 residential, 9 retail)

The deal was facilitated with the help of the broker Bryan [...], representing the involved parties in the transaction. The loan provided by Morgan Stanley amounted to $77,700,000 with a fixed rate of 3.635% over a period of 10 years, allowing for interest-only payments. The properties consist of a total of 537 units, including 528 residential units and 9 retail units.