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Arjan Gjushi Refinances 29 Featherbed Lane Multifamily Building With $38 Million Loan From Wells Fargo

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FINANCED
$38,000,000

New York

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MultiFamily115,685 SF
Financed 01/01/2026
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Property Image
FINANCED

Arjan Gjushi Refinances 29 Featherbed Lane Multifamily Building With $38 Million Loan From Wells Fargo

29 Featherbed Lane

See Similar Deals
MultiFamily115,685 SF
Financed 01/01/2026
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$328
Total Square Footage:115,685 SF
Transaction Type:Loan

29 Featherbed Lane is a multifamily property located in the Morris Heights neighborhood of Bronx, encompassing a total square footage of 115,685. The property underwent refinancing with a loan amount of $38,000,000.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $38,000,000
  • Address: 29 Featherbed Lane
  • Market: Morris Heights, Bronx
  • Asset Square Footage: 115,685
  • Lender: Wells Fargo
  • Landlord: Arjan Gjushi
  • Previous Debt: $33,500,000 held by NorthEast Community Bank

Arjan Gjushi, represented by Featherbed Development LLC, was involved in the refinancing of the property, which consists of 160 residential units. The refinancing arrangement was executed with Wells Fargo, showcasing a transition from the previous financial arrangement with NorthEast Community Bank.

Players

Wells Fargo
Wells Fargo
LENDER

Details

FINANCED
IMAGE: 01/01/2026 ADDRESS: 29 Featherbed Lane MARKET: Morris Heights, Bronx ASSET TYPE: Multifamily ~ SF: 115,685 LENDER: Wells Fargo (@WellsFargo) LANDLORD: Arjan Gjushi LOAN AMOUNT: $38,000,000 LOAN TYPE: Refinance NOTE: Arjan Gjushi, via Featherbed Development LLC, refinanced a 160-unit residential building at 29 Featherbed Lane, Bronx, with a $38M loan from Wells Fargo, up from a $33.5M debt held by NorthEast Community Bank.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$38,000,000.00

Monthly NOI$253,333.33
Monthly Debt Service$240,185.85
Change in Cash Flow$0.00
Refinance Proceeds$0.00