MZS Realty Refinances Multifamily Building At 1821 Prospect Avenue Bronx With $9.8M Loan

The property asset involved in the transaction is a multifamily residential elevator building located at 1821 Prospect Avenue in East Morrisania, Bronx. The building has a total square footage of 17,620 and consists of 33 units. The loan amount for this refinance transaction is $9,800,000.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $9,800,000
• Address: 1821 Prospect Avenue
• Market: East Morrisania, Bronx
• Asset Size: 22,353 BSF / 17,620 SF
• Units: 33
• Lender: Protective Life Insurance Company
• Landlord: MZS Realty
• Prior Debt: $8.2M from BridgeCity Capital

The key individuals and companies involved in this transaction include MZS Realty, which is the landlord of the property, and Protective Life Insurance Company, the lender providing the refinance loan. This refinancing replaced earlier debt, enhancing the financial structure of the property.