Finkelstein Timberger borrows $8M from Prudential for 54-unit rental in Riverdale

Finkelstein Timberger East Real Estate through the entity 211 Bedford Park Blvd LLC as borrower signed a loan agreement with lender Prudential Multifamily Mortgage, LLC valued at $8.3 million for 1 parcel, including the tax class multifamily, semi-fireproof (without stores) (D1) and containing 54 residential units at 211 Bedford Park Boulevard in Riverdale. The deal closed on November 24, 2020 and was recorded on December 31, 2020.
The property contains a total of 60,775 square feet of built space. The signatory for the borrower was Richard Timberger, and for the lender was Kathleen Brogan.
The average loan per unit is $154,167.
The last time the property sold was October 9, 2009 for $3,450,000.
Over the past five years, there have been 3 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. Of those there was one major renovation application including a certificate of occupancy change (A1) filed with a total estimated value of $31,800.0. There were 2 renovation/alteration projects (A2) applied for with a total estimated value of $252,812.

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