Zalman Brody Secures $11.3 Million Construction Loan From IceCap Group For Development Site In Bronx
916 Home Street
$11,300,000
Building Size
—
Asset Type
Development Site
Closing
May 19, 2026
AI
The development site located at 916 Home Street in East Morrisania, Bronx is currently under development for a 53-unit residential building. The property spans 34,412 square feet and has secured a construction loan to facilitate its development process.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $11,300,000
- Lender: IceCap Group
- Landlord: Zalman Brody
- Loan Type: Construction
- Date: 05/19/2026
Zalman Brody, acting through 916 Home Realty LLC, is the key individual securing the construction loan from IceCap Group to advance the project at this site.
Players
Home Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.40%
Cash-on-Cash
-0.40%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93