Updated Sep 23, 2026
Erenik Nezaj Secures $6.3M Construction Loan From Northeast Community Bank For Bronx Development Site
415 East 152nd Street
$6,300,000
Units
28
Asset Type
Development Site
Closing
Sep 10, 2026
About this deal
AI
The property asset involved is a development site located at 415 East 152nd Street in the Bronx market. The asset spans approximately 12,150 square feet, with plans for a 28-unit, 15,768-square-foot residential building, reflecting its potential for growth and development. The construction loan secured for this property amounts to $6,300,000.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $6,300,000
- Address: 415 East 152nd Street
- Market: Bronx
- Lender: Northeast Community Bank
- Landlord: Erenik Nezaj
- Loan Type: Construction
Erenik Nezaj is the landlord associated with this transaction, having secured financing through Northeast Community Bank to facilitate the planned residential development on the site. This funding represents a significant commitment to the development goals outlined for the property.
On the Map
$6,300,000
Development Site
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.52%
Cash-on-Cash
-0.72%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93