Updated Sep 18, 2026
FINANCEDIndustrial
Developer Jacob Schwimmer Secures $90.5M Construction Loan For Industrial Property In Mott Haven, Bronx
40 Bruckner Boulevard, The Bronx, New York 10454, United States
$90,500,000
$1,652/SF
Building Size
54,756 SF
Asset Type
Industrial
Closing
Aug 18, 2022
About this deal
AI
The industrial property located at 40 Bruckner Boulevard in the Mott Haven neighborhood of the Bronx has recently undergone a closed transaction. The property spans a total area of 54,756 square feet and is situated in a bustling market.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $90,500,000
- Loan Type: Construction
- Lender: Valley National Bank
- Landlord: Jacob Schwimmer
The key individuals involved in the deal include Jacob Schwimmer as the landlord and Valley National Bank as the lender. Valley National Bank provided a loan amount of $90,500,000 for the construction of the property. It is worth noting that no additional information about the transaction was provided.
On the Map
$90,500,000
$1,652/SF
Industrial
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Players
New York Industrial Market Snapshot
Boundary boundary · Industrial · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.18%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93