Updated Apr 24, 2026
Raul Russi Of Acacia Network Secures $27.8M Construction Loan From Webster Bank For Bronx Portfolio
1074 Summit Avenue, 765 East 166th Street & 851 Tinton Avenue
$27,800,000
$83/SF
Building Size
110,416 SF
Asset Type
MultiFamily
Closing
Apr 9, 2026
About this deal
AI
The asset involved in the transaction comprises a multifamily portfolio featuring six properties with a total square footage of 110,416. The properties are located in Longwood, Bronx, with the addresses of 1074 Summit Avenue, 765 East 166th Street, and 851 Tinton Avenue.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $27,800,000
- Lender: Webster Bank
- Landlord: Raul Russi - Acacia Network
- Loan Type: Construction
- Unit Count: 123
- Market: Longwood, Bronx
- Closing Date: April 9, 2026
- Recording Date: April 20, 2026
Raul Russi represents Acacia Network, which secured the construction loan to fund the rehabilitation of the multifamily portfolio. The transaction encompasses properties spanning Highbridge, Morrisania, and Longwood.
On the Map
$27,800,000
$83/SF
MultiFamily
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Players
Bronx MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.57%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93