Durgaj Properties Secures $13.6 Million Construction Loan From Northeast Community Bank In Bronx

The property asset involved is a development site located at 304 East 173rd Street in Claremont Village, Bronx. This project comprises a total of 59 units and encompasses a square footage of 30,869 square feet. The transaction involves a construction loan amounting to $13,600,000.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $13,600,000
• Address: 304 East 173rd Street
• Market: Claremont Village, Bronx
• Lender: Northeast Community Bank
• Landlord: Paul Durgaj - Durgaj Properties
• Loan Type: Construction

This transaction indicates the financial engagement between Paul Durgaj of Durgaj Properties and Northeast Community Bank for the construction project. The involvement of Durgaj Properties signifies their commitment towards developing the site with a significant loan aimed at facilitating the construction of the 59-unit project.