Robert Lumaj Of Atlantis Development Secures $18 Million Refinance Loan For 49-Unit Multifamily In Bronx

The property asset involved in the transaction is a multifamily residential building located at 2001 Creston Avenue in the Mt Hope market of Bronx. The property consists of 49 units and occupies 38,402 square feet. The transaction was for a refinance loan amounting to $18,000,000 secured by Atlantis Development through 2001 Creston LLC from UBS AG.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $18,000,000
• Address: 2001 Creston Avenue
• Market: Mt Hope, Bronx
• Units: 49
• Acres: 38,402
• Lender: UBS
• Landlord: Robert Lumaj - Atlantis Development
• Loan Type: Refinance

The deal involved key individuals and entities including Robert Lumaj, representing Atlantis Development, and UBS AG as the lending institution. This refinancing arrangement highlights the strategic financial maneuvers employed by the landlord through their LLC, 2001 Creston LLC, to bolster their property holdings in the Bronx area.