Finkelstein Timberger East Real Estate Secures $63.8M Loan For Bronx Multifamily Properties
FINANCED
$63,800,000
+ 1
New York
See Similar DealsMultiFamily9,270 SF
Financed 03/17/2020
FINANCED
Finkelstein Timberger East Real Estate Secures $63.8M Loan For Bronx Multifamily Properties
271 E 197th St, The Bronx, NY 10458, USA
See Similar DealsMultiFamily9,270 SF
Financed 03/17/2020
+ 1
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$6,882
Total Square Footage:9,270 SF
Transaction Type:Loan
The multifamily properties located at 271 E 197th St, 686 Rosewood Ave, 2505 Olinville Ave, 3215 Holland Ave, 1475 Sheridan Ave, 2305 University Ave, 2315 Walton Ave, and 2515 Olinville Ave in Bronx have been involved in a recent closed transaction. The lender for this deal was Morgan Stanley, providing a loan amount of $63,800,000. The loan terms were set at 4.00% for a 10-year fixed-rate interest-only loan.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $63,800,000
- Lender: Morgan Stanley
- Landlord: Finkelstein Timberger East Real Estate
Finkelstein Timberger East Real Estate served as the landlord for this transaction. They represented the interests of the sellers or previous owners of the properties. The deal was facilitated by Morgan Stanley, who acted as the lender providing the substantial loan amount. This transaction involved a portfolio of eight multifamily properties in Bronx, reflecting the continued investment and activity in the market.
Players
LENDER
LANDLORD
Details
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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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