Pacific Life Insurance Company Provides $94M Construction Loan For Multifamily In New Rochelle | 247 North Avenue | Steven (Steve) Klein, Robert (Bob) Tonnessen | MultiFamily | Loan

Summary

Loan

NEW YORK

MultiFamily

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

All
3

Agents
2
Agencies
1

Steven (Steve) Klein

Managing Director

$40M Sold

Robert (Bob) Tonnessen

Director

JLL

Details

Deal Summary

FINANCED

IMAGE: Anthony Tortora, Anthony Barsanti, Robert Tonnessen & Steven Klein DATE: 08/09/2023 ADDRESS: 247 North Avenue MARKET: New Rochelle ASSET TYPE: Multifamily ~ UNITS: 307 LENDER: Pacific Life Insurance Company LANDLORD: LCOR - Anthony Barsanti & Anthony Tortora BROKERS: Robert Tonnessen & Steven Klein - JLL (@JLL) LOAN AMOUNT: $94,000,000 LOAN TYPE: Construction

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Address247 North Avenue

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