Black Bear Asset Management Secures $63.8M Loan In Bronx With Lender Morgan Stanley
FINANCED
$63,800,000
New York
See Similar DealsMultiFamily
Financed 03/19/2020
FINANCED
Black Bear Asset Management Secures $63.8M Loan In Bronx With Lender Morgan Stanley
2515 Olinville Ave, Bronx, NY, 10467
See Similar DealsMultiFamily
Financed 03/19/2020
Summary
NEW YORK
Asset Type:MultiFamily
Transaction Type:Loan
The property involved in the transaction is a MultiFamily asset located at 2515 Olinville Ave, Bronx, NY, 10467. The loan date was on 03/19/2020, with Black Bear Asset Management representing the borrower, Robert (Rob) Serra. The lender for the transaction was Morgan Stanley, providing a loan amount of $63,800,000.00 in the Bronx market.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $63,800,000.00
- Address: 2515 Olinville Ave, Bronx, NY, 10467
- Market: Bronx
- Borrower's Rep: Robert (Rob) Serra(Black Bear Asset Management)
- Broker: Robert (Rob) Serra(Black Bear Asset Management)
- Lender: Morgan Stanley
Robert (Rob) Serra from Black Bear Asset Management served as both the borrower's representative and broker in this transaction, effectively managing the deal on behalf of their client. The involvement of Morgan Stanleyin providing the substantial loan amount highlights the importance of financial institutions in facilitating such real estate transactions.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$63,800,000.00
Monthly NOI$425,333.33
Monthly Debt Service$403,259.40
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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