Timber Equities Secures $27.5 Million Bridge Loan For 5055 Broadway Multifamily In Inwood

The asset involved in the transaction is a multifamily property located at 5055 Broadway in the Inwood neighborhood of Manhattan, consisting of 60 units. The loan amount for this property transaction is $27,500,000, classified as a bridge loan.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $27,500,000
• Address: 5055 Broadway
• Market: Inwood, Manhattan
• Units: 60
• Lender: Mark Milovic & Craig Oram - LaSalle Investment Management
• Sponsor: Mitch Perle, Joe Seidenfeld, Jeff Torkin - Timber Equities
• Advisors: Max Hulsh, Max Herzog, Andrew Cohen & Michael Samuelian - Institutional Property Advisors (IPA)
• Loan Type: Bridge

The transaction includes key individuals such as Mitch Perle, Joe Seidenfeld, and Jeff Torkin representing the sponsor, Timber Equities, while Mark Milovic and Craig Oram serve as the lender from LaSalle Investment Management. The advisory team comprises Max Hulsh, Max Herzog, Andrew Cohen, and Michael Samuelian from Institutional Property Advisors (IPA).