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Morgan Stanley Provides $77.7M Loan For Bronx Multifamily Portfolio

1299 Grand Concourse, 2500 University Avenue, 2785 Sedgwick Avenue, 3018 Heath Avenue, 1576 Taylor Avenue, 2505 Aqueduct Avenue, 1264-1270 Gerard Avenue, 1945 Loring Place
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This MultiFamily property located in NY received a loan of $77,700,000 about 4 years ago. The brokers of the deal were Phil Bowman, Robert (Rob) Serra, Bryan Manz, and Emil DePasquale

The multifamily properties located at 1299 Grand Concourse, 2500 University Avenue, 2785 Sedgwick Avenue, 3018 Heath Avenue, 1576 Taylor Avenue, 2505 Aqueduct Avenue, 1264-1270 Gerard Avenue, and 1945 Loring Place in the Bronx have been involved in a recent closed transaction.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $77,700,000
  • Lender: Morgan Stanley
  • Brokers: Bryan [...]
  • Loan Terms: 3.635% (10-year, fixed-rate, interest-only loan)
  • Units: 537 (528 residential, 9 retail)

The deal was facilitated with the help of the broker Bryan [...], representing the involved parties in the transaction. The loan provided by Morgan Stanley amounted to $77,700,000 with a fixed rate of 3.635% over a period of 10 years, allowing for interest-only payments. The properties consist of a total of 537 units, including 528 residential units and 9 retail units.

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Deals
  • Location
    1299 Grand Concourse, The Bronx, NY 10452, USA1299 Grand Concourse, The Bronx, NY 10452, USA
  • Loan Value
    $77,700,000$77,700,000
  • Asset Type
    MultiFamilyMultiFamily
  • Parties
    4 Brokers, 2 Agencies, 1 Lender4 Brokers, 2 Agencies, 1 Lender

Agents

Robert (Rob) Serra

Robert (Rob) Serra

Deals9
Financed$472.6M

Agencies

Black Bear Capital Partners

Black Bear Capital Partners

Agency
Deals294
Volume$6.3B

Black Bear Asset Management

Black Bear Asset Management

Agency
Deals8
Volume$488.1M

Morgan Stanley

Morgan Stanley

Lender
Deals70
Volume$ 208.8B

Deal Summary

DATE: 02/07/2020 ADDRESS: 1299 Grand Concourse, 2500 University Avenue, 2785 Sedgwick Avenue, 3018 Heath Avenue, 1576 Taylor Avenue, 2505 Aqueduct Avenue, 1264-1270 Gerard Avenue, 1945 Loring Place MARKET: Bronx ASSET TYPE: Multifamily LENDER: Morgan Stanley BROKERS: Bryan […] LOAN AMOUNT: $77,700,000 LOAN TERMS: 3.635% (10-year, fixed-rate, interest-only loan) PROPERTIES: 8 UNITS: 537 (528 residential, 9 retail)

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1299 Grand Concourse, 2500 University Avenue, 2785 Sedgwick Avenue, 3018 Heath Avenue, 1576 Taylor Avenue, 2505 Aqueduct Avenue, 1264-1270 Gerard Avenue, 1945 Loring Place

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