Shimshon Grunstein Secures $17.1M Construction Loan From Northeast Community Bank For Development Site In Bronx

A construction loan was secured for a development site located at 3006 Williamsbridge Road in the Allerton neighborhood of Bronx. The asset covers an area of 46,905 square feet and will facilitate the construction of a residential building with 55 units. The total loan amount is $17,100,000.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $17,100,000
• Address: 3006 Williamsbridge Road
• Market: Allerton, Bronx
• Asset Size: 46,905 sq. ft.
• Lender: Northeast Community Bank
• Landlord: Shimshon Grunstein
• Loan Type: Construction

Shimshon Grunstein, through 3006 Williamsbridge LLC, is the landlord involved in this transaction and facilitated the acquisition of the financing needed for the development project from Northeast Community Bank.