Durgaj Properties And Balfin Americas Secure $46 Million Construction Loan For Bronx Multifamily Buildings
112 & 120 East 167 St
$46,000,000
$353/SF
Building Size
130,084 SF
Asset Type
MultiFamily
Closing
Jun 25, 2026
AI
The transaction involves a multifamily asset located at 112 & 120 East 167 Street in the Bronx market. The total square footage of the property is 130,084, comprising 168 rental units. The investment secured by Durgaj Properties and Balfin Americas amounts to $46,000,000 through a construction loan from North East Community Bank.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $46,000,000
- Address: 112 & 120 East 167 Street
- Market: Bronx
- Asset Size: 130,084 SF
- Units: 168
- Lender: North East Community Bank
- Landlord: Elton Durgaj - Durgaj Properties & Martin Mane - Balfin Americas
- Loan Type: Construction
Elton Durgaj and Martin Mane are the key individuals representing Durgaj Properties and Balfin Americas in this transaction. They successfully secured the financing for the construction of two 84-unit buildings under this agreement.
Players
Santa MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.34%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93