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Morgan Stanley Provides $77.7M Loan For Bronx Multifamily Portfolio

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FINANCED
$77,700,000
Robert (Rob) Serra
Emil DePasquale
Phil Bowman
+ 1

New York

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MultiFamily15,000 SF
Financed 02/07/2020
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Property Image
FINANCED

Morgan Stanley Provides $77.7M Loan For Bronx Multifamily Portfolio

1299 Grand Concourse, The Bronx, NY 10452, USA

See Similar Deals
MultiFamily15,000 SF
Financed 02/07/2020
Robert (Rob) Serra
Emil DePasquale
Phil Bowman
+ 1
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$5,180
Total Square Footage:15,000 SF
Transaction Type:Loan

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.

Players

Emil DePasquale
Black Bear Capital Partners
Emil DePasquale
90 deals$2.2B volume
BROKER
BM
Black Bear Capital Partners
Bryan Manz
62 deals$1.5B volume
BROKER
Robert (Rob) Serra
Black Bear Capital Partners
Robert Serra
14 deals$662.3M volume
BROKER
Phil Bowman
Black Bear Capital Partners
Phil Bowman
12 deals$505M volume
BROKER
Morgan Stanley
Morgan Stanley
LENDER

Details

FINANCED
IMAGE: 02/07/2020 ADDRESS: 1299 Grand Concourse, 2500 University Avenue, 2785 Sedgwick Avenue, 3018 Heath Avenue, 1576 Taylor Avenue, 2505 Aqueduct Avenue, 1264-1270 Gerard Avenue, 1945 Loring Place MARKET: Bronx ASSET TYPE: Multifamily LENDER: Morgan Stanley BROKERS: Bryan […] LOAN AMOUNT: $77,700,000 LOAN TERMS: 3.635% (10-year, fixed-rate, interest-only loan) PROPERTIES: 8 UNITS: 537 (528 residential, 9 retail)

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$77,700,000.00

Monthly NOI$518,000.00
Monthly Debt Service$491,116.85
Change in Cash Flow$0.00
Refinance Proceeds$0.00