Crotona Ave Apartments 2

Transaction description

Matthew Farzinpour of PSRS arranged the $2.4 million refinance of a 10-unit multifamily property in The Bronx, New York. Comprising eight one-bedroom and two two-bedroom layouts, the three-story apartment building completed a comprehensive gut renovation in 2026. Sourced through one of PSRS’s correspondent life insurance companies, the transaction provided the borrower with a 65% loan-to-value (LTV) capital structure featuring a three-year loan term paired with a 25-year amortization schedule, and the option to fully amortize the loan at the borrower’s discretion.