Black Bear Capital Partners ("BBCP") Secures $4.6M Loan Extension for Bronx Multifamily Asset

The property asset involved in this transaction is a multifamily building located at 2104 Cross Bronx Expressway in the Bronx market. The asset comprises 38 units and is financed with a loan amount of $4,600,000. The loan is an extension type, structured as a fixed-rate loan at an interest rate of 2.75%, featuring a 30-year amortization schedule.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $4,600,000
• Loan Type: Extension
• Loan Terms: 6-month extension, fixed-rate at 2.75%, 30-year amortization
• Lender: M&T Bank
• Landlord: Finkelstein Timberger East Real Estate (FTERE)
• Brokers: Emil DePasquale & William McGovern - Black Bear Capital Partners

Key individuals involved in the deal include the brokers Emil DePasquale and William McGovern from Black Bear Capital Partners, who played a pivotal role in facilitating the transaction. They were instrumental in coordinating between the lender, M&T Bank, and the landlord, Finkelstein Timberger East Real Estate, to finalize the loan agreement.