Urban Standard Capital Closes $5.5M Loan For Bronx Development Site

A development site located at 883-885 Bryant Avenue in Bronx was involved in a recent closed transaction. The property, with a buildable square footage (BSF) of 25,523, was part of the PFASH program. The loan amount for this transaction was $5,500,000.

Summary of transaction details

• Property Type: Development Site
• Transaction Date: 06/30/2021
• Address: 883-885 Bryant Avenue, Bronx
• Market: Bronx
• BSF: 25,523

The loan for this transaction was provided by Urban Standard Capital, with Charlie Brosens and Jeremy Plofker representing the lender. The landlord involved in the deal was Gregory Harvey. Chaim Greenfeld served as the broker for this transaction.

According to a note from @USC_NYC, the sponsor chose Urban Standard Capital due to their ability to close the loan quickly and with certainty. This loan was closed in less than two weeks, making it the final PFASH project to close before the program ended. For all bridge and construction opportunities, interested parties can reach out to Charlie ([email protected]) and Robert ([email protected]).