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New York & Tri-State  + Uptown/Bronx  + Finance  | 

Black Bear Secures $107M for Multiple Borrowers

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

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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