Steve Finkelstein's Finkelstein Timberger East Real Estate Secures $53.9M Loan In Bronx Multifamily Deal
FINANCED
$53,900,000
New York
See Similar DealsMultiFamily12,400 SF
Financed 02/25/2020
FINANCED
Steve Finkelstein's Finkelstein Timberger East Real Estate Secures $53.9M Loan In Bronx Multifamily Deal
75 W 190th St, The Bronx, NY 10468, USA
See Similar DealsMultiFamily12,400 SF
Financed 02/25/2020
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$4,346
Total Square Footage:12,400 SF
Transaction Type:Loan
Multiple multifamily properties in the Bronx have recently been involved in a closed transaction. The properties include 75 West 190th Street, 610 Trinity Avenue, 1791 Walton Avenue, 2770-80 Kingsbridge Terrace, 3031 Holland Avenue, and 3041 Holland Avenue. These properties are part of the Bronx market and are classified as multifamily assets.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $53,900,000
- Lender: Morgan Stanley
- Landlord: Steve Finkelstein – Finkelstein Timberger East Real Estate
Morgan Stanley provided a loan amount of $53,900,000 for this transaction. The loan terms feature a fixed interest rate of 3.58%, with ten years of full-term, interest-only payments. Steve Finkelstein, representing Finkelstein Timberger East Real Estate, acted as the landlord in this deal.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$53,900,000.00
Monthly NOI$359,333.33
Monthly Debt Service$340,684.66
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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