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NEW YORK CITY — Locally based owner-operator Timber Equities has received a $27.5 million loan for the refinancing of The Sophia, a 60-unit apartment building in Manhattan’s Inwood neighborhood. The 11-story building was completed in fall 2025 and includes 1,700 square feet of retail space. Units come in one-, two- and three-bedroom floor plans, and amenities include a fitness center, resident lounge, package room and a rooftop deck. Max Hulsh of Institutional Property Advisors (IPA), a division of Marcus & Millichap, led the team that arranged the loan through LaSalle Investment Management on behalf of ownership.