Joy Construction & Azimuth Development Group Secure $168M Loan For Development Project At 2069 Bruckner Blvd, Unionport

A development site located at 2069 Bruckner Boulevard in the Unionport neighborhood of the Bronx has secured a $168 million construction loan from the NYC Housing Development Corporation. The borrower, Joy Construction and Azimuth Development Group, operating as Bruckner Lihtc Owner LLC, will use the loan to support their development project in the area. The development site spans a total buildable square footage of 293,478 and is expected to bring new opportunities to the Unionport market.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $168,000,000
• Address: 2069 Bruckner Boulevard
• Market: Unionport, Bronx
• Buildable Square Footage: 293,478

The NYC Housing Development Corporation acted as the lender in this $168 million construction loan deal. Joy Construction and Azimuth Development Group, represented by Eli Weiss, serve as the landlords and developers for the project at 2069 Bruckner Boulevard. The loan from NYC Housing Development Corporation will provide the necessary funds for the development to proceed, further contributing to the growth and development of the Unionport neighborhood in the Bronx.