Spaxel Secures $28.9M Construction Loan For Bronx Development

Spaxel, represented by the entity 1824 Anthony Avenue LLC, secured a new construction loan valued at $28.9 million from Metropolitan Commercial Bank for a 128-unit development at 1824 Anthony Avenue in Mt Hope, the Bronx. The development site spans approximately 45,000 square feet. The loan will be used for the construction of the project.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $28,904,722
• Lender: Jay Shah & Ross Dahmen - Metropolitan Commercial Bank
• Landlord: Granit Gjonbalaj - Spaxel
• Address: 1824 Anthony Avenue
• Market: Mt Hope, Bronx
• Asset Type: Development Site
• BSF: 45,000

Granit Gjonbalaj, the landlord, and Spaxel, represented by 1824 Anthony Avenue LLC, successfully secured a new construction loan from Metropolitan Commercial Bank. The loan amount of $28.9 million will be utilized for the development of a 128-unit project at 1824 Anthony Avenue in Mt Hope, Bronx. Jay Shah & Ross Dahmen of Metropolitan Commercial Bank act as the lenders in this transaction.