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Fannie Mae Acquires Multifamily Properties In Bronx For $62M

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FINANCED
$62,019,000
Brandon Harris
Emil DePasquale
+ 1

New York

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MultiFamily
Financed 07/21/2020
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FINANCED

Fannie Mae Acquires Multifamily Properties In Bronx For $62M

2531 Olinville Ave, The Bronx, NY 10467, USA

See Similar Deals
MultiFamily
Financed 07/21/2020
Brandon Harris
Emil DePasquale
+ 1
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Summary

NEW YORK
Asset Type:MultiFamily
Transaction Type:Loan

The multifamily properties located at 2531 Olinville Avenue, 2541 Olinville Avenue, 2545 Olinville Avenue, 3034 Grand Concourse, 215 Mt Hope Place, 111 Mt Hope Place, 305 Bedford Park Boulevard, 675 E 234th Street, and 690 Gerard Avenue in Bronx have been involved in a recent closed transaction. The loan date for this transaction was on July 21, 2020. The lender for this transaction is Fannie Mae, through the PGIM Real Estate agency lending program. The loan amount for this transaction was $62,019,000. These properties consist of 432 units in total.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $62,019,000
  • Lender: Fannie Mae (via PGIM Real Estate agency lending program)
  • Loan Date: 07/21/2020
  • Units: 432

In this closed transaction, Fannie Mae, through the agency lending program of PGIM Real Estate, provided a loan of $62,019,000 for the multifamily properties located at 2531 Olinville Avenue, 2541 Olinville Avenue, 2545 Olinville Avenue, 3034 Grand Concourse, 215 Mt Hope Place, 111 Mt Hope Place, 305 Bedford Park Boulevard, 675 E 234th Street, and 690 Gerard Avenue in Bronx. The transaction took place on July 21, 2020.

Players

Emil DePasquale
90 deals$2.2B volume
BROKER


Robert (Rob) Serra
Black Bear Capital Partners
14 deals$662.3M volume
BROKER

Brandon Harris
Black Bear Capital Partners
74 deals$1.1B volume
BROKER

PGIM
LENDER

Details

FINANCED
IMAGE: DATE: 07/21/2020 ADDRESSES: 2531 Olinville Avenue, 2541 Olinville Avenue, 2545 Olinville Avenue, 3034 Grand Concourse, 215 Mt Hope Place, 111 Mt Hope Place 305 Bedford Park Boulevard, 675 E 234th Street, 690 Gerard Avenue MARKET: Bronx ASSET TYPE: Multifamily LENDER: Fannie Mae (via PGIM Real Estate agency lending program) […] LOAN AMOUNT: $62,019,000 UNITS: 432

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$62,019,000.00

Monthly NOI$413,460.00
Monthly Debt Service$392,002.27
Change in Cash Flow$0.00
Refinance Proceeds$0.00