Cushman & Wakefield arranged a $26,350,000 loan on behalf of the JCAL Development Group to refinance The Bridgeline, a 91-unit Class A multifamily property located at 329 E. 132nd St. in the South Bronx. Webster Bank provided the two-year, fixed-rate loan.
A Cushman & Wakefield Equity, Debt & Structured Finance team of Brad Domenico, Frank Stanislaski and Ethan Thompson secured the financing on behalf of the borrower.
“The Bridgeline benefits from a sought-after mix of high-quality Class A product that is situated on a transit-oriented site in The Bronx, affording residents easy access into Manhattan,” said Domenico. “Those fundamentals, combined with stabilized occupancy and amenities typically seen in higher-barrier submarkets, drove significant lender interest for this deal and, ultimately, a smooth close.”
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