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Grun Group Secures $9.8 Million Construction Loan From IceCap Group For Bronx Development Site
FINANCED
$9,800,000
New York
See Similar DealsDevelopment Site
Financed 05/26/2026
FINANCED
Grun Group Secures $9.8 Million Construction Loan From IceCap Group For Bronx Development Site
2786 Webster Avenue
See Similar DealsDevelopment Site
Financed 05/26/2026
Summary
NEW YORK
Asset Type:Development Site
Transaction Type:Loan
The property at 2786 Webster Avenue is a development site located in the Bronx, featuring a building size of 61,739 square feet. It is intended for a residential project consisting of 99 units. The loan secured for this project amounts to $9,800,000.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $9,800,000
- Address: 2786 Webster Avenue
- Market: Bronx
- Lender: IceCap Group
- Landlord: Grun Group
- Loan Type: Construction
Grun Group, along with Yaakov Lefkowitz, through 2800 Webster BSD LLC, has engaged in securing financing for the planned residential project at this location. The loan was provided by IceCap Group’s Ice Lender Holdings, LLC.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$9,800,000.00
Monthly NOI$65,333.33
Monthly Debt Service$61,942.67
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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