IMAGE: Phil Bowman & Emil DePasquale
ADDRESS: 2544 Valentine Avenue, 3940 Carpenter Avenue, 211 Bedford Park Blvd, 2885 Briggs Avenue, 2908-10 Valentine Avenue, 2935 Holland Avenue, 116 Henwood Place, 1056 Sherman Avenue, 1495 Morris Avenue, 2100-2120 Wallace Avenue, 2765 Kingsbridge Terrace, 1791 Grand Concourse, 2294-2300 University Avenue, 2230-38 Grand Concourse, 1000 Anderson Avenue, 2701 Webb Avenue.
ASSET TYPE: Multifamily
LENDER: Fannie Mae through PGIM Real Estate’s Agency Lending Program
LANDLORD: Finkelstein Timberger East Real Estate
BROKERS: Bryan Manz, Emil DePasquale, Phil Bowman & Jack Cohen - @BlackBearCapitalPartners
LOAN AMOUNT: $186,410,000
LOAN TERMS: The $186.4 million loan featured an averaged fixed rate of 2.98% for twelve years with partial interest-only payments followed by thirty-year amortization schedules.
NOTE: The loan, secured through Fannie Mae’s Green Rewards program, marks the Agency’s first large solar portfolio in New York City. The program, which rewards property owners that commit to reducing their properties’ annual energy and/or water usage by at least 30%, offers lower pricing, additional loan proceeds, and a free Energy and Water Audit Report to finance smarter, greener property improvements.
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