Updated Oct 29, 2026
Yecheskel Weiss Secures $10.2 Million Construction Loan From Northeast Community Bank For Development In Bronx
979 Intervale Avenue
$10,200,000
Units
41
Asset Type
Development Site
Closing
Sep 14, 2026
About this deal
AI
The property involved in this transaction is a development site located at 979 Intervale Avenue in the Longwood neighborhood of the Bronx. The asset type is classified as a development site with a building square footage of 17,200. This site is intended for a planned residential development consisting of 41 units.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $10,200,000
- Loan Amount: $10,200,000
- Loan Type: Construction
- Lender: Northeast Community Bank
- Landlord: Yecheskel Weiss
Yecheskel Weiss is the landlord and secured financing from Northeast Community Bank for the construction project aimed at developing the residential units on the site. The loan was finalized on September 14, 2026, specifically allocated for the planned construction of the development.
On the Map
$10,200,000
Development Site
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Players
Bronx Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.56%
Cash-on-Cash
-0.44%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93