Jed Resnick Of Douglaston Development Secures $190 Million Loan For Bronx Development Site

The asset involved in the transaction is a development site located at 2868 Webster Avenue in the Bronx. The property is designated for a senior affordable housing project, indicating a multifamily development focus. The construction loan secured for this project amounts to $190 million.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $190,000,000
• Address: 2868 Webster Avenue
• Market: Bronx
• Lender: Wells Fargo, Housing Development Corp; Department of Housing Preservation & Development
• Landlord: Jed Resnick - Douglaston Development

The deal involves key entities including Wells Fargo and the Housing Development Corporation, along with the Department of Housing Preservation and Development, working together to finance the construction of this multifamily development. Jed Resnick represents Douglaston Development, the landlord undertaking this significant project in the Bronx.