Arion Fund Provides $10,600,000 Bridge Loan For Mixed-Use Property In Bronx, NY
1111 Ward Avenue, 1113 Ward Avenue, 2486 Morris Avenue, 2494 Morris Avenue & 267 East 188th Street
$10,600,000
$76/SF
Building Size
137,820 SF
Asset Type
Mixed-use
Closing
Jun 25, 2026
AI
The property involved in the transaction consists of a mixed-use asset with a total square footage of 137,820, located at 1111-1113 Ward Avenue, 2486-2494 Morris Avenue, and 255-267 East 188th Street in the Bronx, NY. It features 165 units altogether, with a loan amount of $10,600,000 provided for its acquisition and renovations.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $10,600,000
- Market: Bronx, NY
- Lender: Arion Fund
- Key Individuals: Amit Stern & Eli Ben-Meir
- Loan Type: Bridge
- Loan Structure: 79.37% of the purchase price
- Purpose: Renovation of vacant apartment units
Arion Fund, represented by Amit Stern and Eli Ben-Meir, is committed to providing tailored financing solutions in the multifamily sector, with this loan designed to support growth and opportunity through additional construction funding for the property.
Players
Market Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.50%
Cash-on-Cash
-0.43%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93