Updated Nov 5, 2026
Leopold Zicherman & Calman Lieberman Of Zeetex Realty Secure $16.1M Loan For 52-unit Development In Bronx
2609 Marion Avenue
$16,100,000
Units
52
Asset Type
Development Site
Closing
Oct 22, 2026
About this deal
AI
The asset involved in this transaction is a development site located at 2609 Marion Avenue in Fordham Manor, Bronx. The site is designated for a planned 52-unit residential development and has a total building square footage of 31,312. The loan associated with this development is valued at $16,100,000.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $16,100,000
- Address: 2609 Marion Avenue
- Market: Fordham Manor, Bronx
- Lender: Northeast Community Bank
- Landlord: Leopold Zicherman & Calman Lieberman - Zeetex Realty
- Loan Type: Construction
Leopold Zicherman and Calman Lieberman, representing Zeetex Realty, facilitated the arrangement of the construction loan from Northeast Community Bank for the proposed residential development at the specified address.
On the Map
$16,100,000
Development Site
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Players
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.99%
Cash-on-Cash
-0.28%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93