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Abraham Silber, Joel Freund, And Volvy Silber Secure $21.9M Construction Loan For Pelham Bay Project
FINANCED
$21,900,000
New York
See Similar DealsDevelopment Site
Financed 05/29/2025
FINANCED
Abraham Silber, Joel Freund, And Volvy Silber Secure $21.9M Construction Loan For Pelham Bay Project
3109 Buhre Avenue
See Similar DealsDevelopment Site
Financed 05/29/2025
Summary
NEW YORK
Asset Type:Development Site
Transaction Type:Loan
A construction loan of $21,900,000 was secured for a development site located at 3109 Buhre Avenue in the Pelham Bay neighborhood of Bronx. This site encompasses a total building square footage of 76,185 and is intended for a 93-unit residential project.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $21,900,000
- Lender: Larry Elman & Jason Grossman - Broadview Capital
- Landlord: Abraham Silber, Joel Freund, and Volvy Silber
- Loan Type: Construction
The construction loan facilitates the efforts of Abraham Silber, Joel Freund, and Volvy Silber in developing a residential project, highlighting their engagement with Broadview Capital for the financial backing required for the project at the specified address.
Players
LENDER
LENDER
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Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$21,900,000.00
Monthly NOI$146,000.00
Monthly Debt Service$138,422.90
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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