February 12, 2020
Black Bear Capital Partners (BBCP) recently arranged $106.5 million on behalf of multiple borrowers for the refinance of several multifamily portfolios throughout New York City. The largest of these was a $77.7-million, 10-year loan for eight properties in the Bronx owned by Finkelstein Timberger East Real Estate, a repeat borrower.
BBCP also arranged a $19.5-million, 10-year refi on a three-property portfolio on the Lower East Side. Black Bear Asset Management was the borrower. Morgan Stanley was the lender.
The BBCP team of Bryan Manz, Rob Serra, Phil Bowman, and Emil DePasquale also arranged a $9.325-million, two-year bridge loan for 144 West St., a 22-unit multifamily property under construction in Brooklyn. Westchester-based Caspi Development was the borrower. MF1 Capital was the lender.
Pictured: 2785 Sedgwick Ave. in the Bronx, part of the Finkelstein Timberger portfolio.
For comments, questions or concerns, please contact Paul Bubny