David Kramer Of Hudson Companies & BRP Companies Secures $343 Million Loan For Bronx Multifamily Project

The asset involved in this transaction is a multi-family property located at 626 Bergen Avenue in the Bronx. It represents a significant financing initiative with a loan amount of $343,000,000 dedicated to Phase II of the La Central project, which consists of five buildings aimed at providing affordable housing. This phase will add 420 affordable units to the market, including 63 apartments specifically designated for supportive housing.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $343,000,000
• Lender: J.P. Morgan Chase
• Landlord: David Kramer - Hudson Companies & BRP Companies
• Location: 626 Bergen Avenue, Bronx
• Market: Bronx
• Number of Affordable Units: 420
• Supportive Housing Apartments: 63

The deal involves key representatives, including David Kramer from Hudson Companies and BRP Companies, who secured the financing necessary for the project. As part of this initiative, J.P. Morgan Chase serves as the lender, facilitating the funding required to enhance affordable housing in the Bronx, thereby supporting community development initiatives.