Updated Jul 13, 2026
Beitel Group Secures $298.4 Million Refinance Loan From Barings For 710-Unit Bronx Building
355 Exterior Street
$298,400,000
$382/SF
Building Size
779,322 SF
Asset Type
MultiFamily
Closing
Jun 24, 2026
About this deal
AI
The property involved is a 710-unit residential building located at 355 Exterior Street in Mott Haven, Bronx, spanning a total area of 779,322 square feet. The property was refinanced with a loan amount of $298,400,000.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $298,400,000
- Lender: Barings
- Landlord: Ben Beitel - Beitel Group
- Loan Type: Refinance
- Address: 355 Exterior Street
- Market: Mott Haven, Bronx
Ben Beitel, representing Beitel Group, facilitated the refinancing of the asset through 355 Exterior Street Associates LLC, securing the loan from Barings for the residential building.
On the Map
$298,400,000
$382/SF
MultiFamily
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Players
Bronx MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.05%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93