Finkelstein Timberger Secures $44M Loan for Bronx Portfolio
- Jan 31, 2020
Finkelstein Timberger East Real Estate has secured $43.8 million in permanent financing for six New York properties. The firm obtained the loan for six properties in the Bronx, N.Y., totaling 305 units. The assets include:
- 104 W.190th St.
- 1055 Grand Concourse
- 1354 Commonwealth Ave.
- 2085 Valentine Ave.
- 2264 Creston Ave.
- 3425 Knox Ave.
The loan, provided by Morgan Stanley, featured a fixed rate of 3.7 percent and 10 years of full-term, interest-only payments. The refinancing loan was arranged by Black Bear Capital Partners’ Bryan Manz, Rob Serra and Emil DePasquale.
Earlier this month, the same team arranged $142.6 million for another Bronx portfolio on behalf of The Morgan Group.
This new loan follows many of the guideline refinancing packages that Black Bear Capital Partners recently arranged on behalf of Finkelstein Timberger East Real Estate for additional properties throughout the Bronx.