Ben Shavolian Refinances Bronx Multifamily Building At 3436 Kingsbridge Avenue For $13.1 Million

The property asset involved in this transaction is a multifamily residential elevator building located at 3436 Kingsbridge Avenue in the Kingsbridge area of Bronx. The building encompasses 39 units and has a total square footage of 44,544. The loan associated with this asset is for the amount of $13,100,000, utilized for refinancing purposes.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $13,100,000
• Address: 3436 Kingsbridge Avenue
• Market: Kingsbridge, Bronx
• Units: 39
• Square Footage: 44,544
• Lender: Community Preservation Corporation (CPC)
• Landlord: Ben Shavolian
• Prior CPC Debt: $12,400,000
• Original Purchase Price: $2,200,000
• Purchase Year: 2017

Ben Shavolian, through 3436 Kings LLC, engaged in this refinancing deal with Community Preservation Corporation, enabling the updated financial arrangement for the property. The previous CPC loan provided for the asset was $12.4 million, indicating a significant financial commitment in managing the property’s capital structure.