MF1 Capital Provides $32M Bridge Loan For Multifamily Property In New Rochelle

The recent closed property transaction in New Rochelle involved a multifamily asset located at 20 Burling Lane. The property, whose image was shared by Phil Bowman and Emil DePasquale, was the subject of a loan deal.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $32,000,000
• Market: New Rochelle
• Lender: MF1 Capital
• Brokers: Bryan Manz, Emil DePasquale, and Phil Bowman - @BlackBearCapitalPartners

The loan amount for this transaction was $32,000,000, which was secured through a two-year bridge loan provided by MF1 Capital. The loan will be utilized to retire approximately $25 million of debt and provide additional funds for the property.