Loans given to Finkelstein Timberger East Real Estate, Related Companies and the Feil Organization are some of the largest that make up a new $1 billion commercial mortgage-backed securities deal arranged by Morgan Stanley, Bank of America and Wells Fargo.
The CMBS package was closed March 12, but the first assignment to the CMBS entity in New York City was made yesterday for a smaller participating loan covering the cooperative building 214 Clinton Street in Brooklyn.
The largest loan in the CMBS deal is one for $76.7 million secured by a 526-unit portfolio of Finkelstein Timberger multifamily buildings in the Bronx including 1270 Gerard Avenue. The fourth largest piece of debt in the package, for $70 million, is secured by the Feil Organization’s 200 West 57th Street. The sixth largest debt piece is $56.7 million secured by Related Companies and Oxford Properties Group’s 55 Hudson Yards office tower. The total debt on that building is $1.245 billion.
The CMBS entity is BANK 2020-BNK26.
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