Finkelstein Timberger refis $19.5M with Prudential for Bronx rentals

Finkelstein Timberger East Real Estate refinanced $19.5 million with Prudential Multifamily Mortgage in two separate transactions for rental buildings in the Bronx with at total of 108 units.

In the first, Finkelstein Timberger East Real Estate through the entity 1495 Morris Ave Realty LLC as borrower signed a loan agreement with lender Prudential Multifamily Mortgage, LLC valued at $10.3 million for 1 parcel, including the tax class multifamily, semi-fireproof (without stores) (D1) and containing 54 residential units at 1495 Morris Avenue in Tremont. The deal closed on November 24, 2020 and was recorded on December 9, 2020.
The property contains a total of 52,800 square feet of built space.
The average loan per unit is $191,667.
The last time the property sold was February 6, 2014 for $5,200,000.
Direct link to Acris document. link
The signatory for the lender was Kathleen H. Brogan.

In the second, Finkelstein Timberger East Real Estate through the entity 2294-2300 LLC as borrower signed a loan agreement with lender Prudential Multifamily Mortgage, LLC valued at $9.2 million for 2 parcels, including the tax class multifamily, over six families without stores (C1) and containing 54 residential units at 2294 University Avenue and 2300 University Avenue in University Heights. The deal closed on November 24, 2020 and was recorded on December 9, 2020.

The average loan per unit is $170,833.
The last time at least one of the properties sold was December 2, 2004 for $2,050,000.
Direct link to Acris document. link