High-rise commercial buildings

Sub Markets

Property Sectors

Topics

New York & Tri-State CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

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

NKF Debt Team Arranges Refi in Morningside Heights

NKF has secured a $78-million fixed-rate loan on behalf of BCB Property Management to refinance a six-building multifamily portfolio in Morningside Heights. Signature Bank provided the senior loan, while the mezzanine loan was provided by Keysite Capital.

The NKF team was led by Dustin Stolly and Jordan Roeschlaub, co-heads of debt & structured finance, along with Daniel Fromm and Jason Deck. “This refinancing allows BCB to repay their existing debt provided by Square Mile Capital, and provides the capital necessary to successfully complete the execution of their business plan,” said Stolly.

Located at 111 W. 104th St. (pictured), 242 W.109th St., 3143 Broadway, 3147 Broadway, 3149 Broadway and 500 Cathedral Pkwy., the properties are 100% occupied. BCB has spent over $10 million for unit renovations, common areas, and building systems upgrades since acquiring the portfolio in 2014.

For comments, questions or concerns, please contact Paul Bubny

Connect

Inside The Story

Connect With NKF's StollyConnect With NKF's Roeschlaub

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).

  • ◦Financing
New call-to-action
New call-to-action