NVE Bank Provides $6.1M Construction Loan To Maheen Farrukh & Syed Farrukh For Development Site In Parchester, Bronx | 2422 Lyvere Street | NVE Bank | Michael Volpe | Development Site | Loan

Summary

Loan

NEW YORK

Development Site

24,000 sqft

A development site located at 2422 Lyvere Street in the Parchester neighborhood of Bronx was recently involved in a closed property transaction. The property has a building size factor (BSF) of 24,000 and is designated as a development site.

Summary of transaction details

Property Type: Development Site
Address: 2422 Lyvere Street
Market: Parchester, Bronx
BSF: 24,000

In this transaction, Maheen Farrukh and Syed Farrukh served as the landlords of the property. The loan for the transaction was provided by NVE Bank, with a total amount of $6,100,000. The loan type was construction, and the terms of the loan included a 24-month duration with interest-only payments.

Broker Michael Volpe from Highcap Group represented the parties involved in this transaction.

Players

All
3

Agents
1
Agencies
1
Lenders
1

Details

Deal Summary

FINANCED

IMAGE: Michael Volpe DATE: 10/25/2022 ADDRESS: 2422 Lyvere Street MARKET: Parchester, Bronx ASSET TYPE: Development Site ~ BSF: 24,000 LENDER: NVE Bank (@NVE_Bank) LANDLORD: Maheen Farrukh & Syed Farrukh BROKER: Michael Volpe (@volpemv14) - Highcap Group (@Highcap_Group) LOAN AMOUNT: $6,100,000 LOAN TYPE: Construction LOAN TERMS: 24 months, interest only

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Address2422 Lyvere Street

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