PCSB Bank Provides $5.4M Loan For Multifamily Property On Summit Avenue, Highbridge, Bronx

931 Summit Ave, The Bronx, NY 10452, USA

$5,400,000

$25/SF

Building Size

215,000 SF

Asset Type

MultiFamily

Closing

Feb 17, 2020

AI

An apartment complex located at 931-937 Summit Avenue in the Highbridge neighborhood of the Bronx has been sold. The property, measuring 21,500 square feet, consists of a multifamily building with a total of 32 units.

Summary of transaction details:

Property Type: Multifamily
Transaction Amount: $5,400,000
Address: 931-937 Summit Avenue, Highbridge, Bronx
Market: Highbridge, Bronx

The lender for this transaction was PCSB Bank, specifically Putnam County Savings Bank. Global Heights Apartments Inc., represented by Wajeeha Naseem, acted as the landlord. The deal was facilitated by broker Michael Volpe from Highcap Group.

The loan provided for this transaction amounted to $5,400,000. The loan terms include a 7-year fixed term with a 30-year amortization schedule.

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