Pacific Life Insurance Company Provides $94M Construction Loan For Multifamily In New Rochelle

247 North Ave New Rochelle, NY 10801, USA

$94,000,000

Building Size

—

Asset Type

MultiFamily

Closing

Aug 9, 2023

AI

The Multifamily property located at 247 North Avenue in New Rochelle has undergone a significant transaction. The property consists of 307 units, making it a substantial asset in the market.

Summary of transation details

Property Type: Multifamily
Transaction Amount: $94,000,000
Address: 247 North Avenue, New Rochelle
Market: New Rochelle

In this deal, Pacific Life Insurance Company acted as the lender, providing a construction loan for the property. The loan amount was $94,000,000, enabling the development or renovation of the multifamily asset.

The property is owned by LCOR, represented by Anthony Barsanti and Anthony Tortora. The brokers handling the transaction were Robert Tonnessen and Steven Klein from JLL.

Players