Bart Mitchell Of Community Builders Secures $27.4M Construction Loan For Bronx Development Site

The asset involved is a development site located at 105 West Tremont Avenue in the Bronx market, featuring a total building square footage of 54,496. The site is set for a planned 97-unit residential project.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $27,400,000
• Lender: Bank of New York Mellon; M&T Bank
• Landlord: Bart Mitchell - Community Builders
• Loan Type: Construction

The deal involves Bart Mitchell, representing Community Builders, who secured the construction loan for the project. This transaction highlights the role of Bank of New York Mellon and M&T Bank as key financial partners in facilitating the development of the site.