Community Preservation Corporation Provides $137M Construction Loan For Multifamily Project In Bronx

The 228-unit multifamily property located at 1415-1417 Wythe Place, 690-692 East 182nd Street, 737 East 187th Street, 1466 Grand Concourse & 751 East 187th Street in the Bronx has undergone a closed transaction. The deal was finalized on 10/25/2022.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $137,000,000
• Market: Bronx
• Lender: Community Preservation Corporation (CPC) - Brandie Moreno & Robert Riggs, Department of Housing & Preservation (HPD) & Settlement Housing Fund (SHF) - Alexa Sewell & Judy Herbstman
• Loan Amount: $137,000,000
• Loan Type: Construction

The Community Preservation Corporation (CPC), along with Brandie Moreno & Robert Riggs, the Department of Housing & Preservation (HPD), and the Settlement Housing Fund (SHF) represented by Alexa Sewell & Judy Herbstman, provided the construction loan for this property.