Kraus Organization Secures $32M Refinance Loan For Bronx Multifamily Properties

The Kraus Organization, represented by Aldus Green Company L.P., has secured a $32 million refinance loan from Flagstar Bank for 11 residential elevator properties encompassing a total of 426 residential units. This includes buildings located at 996 Aldus Street, 1010 Bryant Avenue, and 1025 Aldus Street in the Longwood area of Bronx. The multifamily properties have a combined square footage of 340,324.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $32,000,000
• Address: 996 Aldus Street, 1010 Bryant Avenue, 1025 Aldus Street
• Market: Longwood, Bronx
• Lender: Flagstar Bank
• Landlord: Stephen R. Kraus - Kraus Organization
• Loan Amount: $31,952,000
• Loan Type: Refinance

Stephen R. Kraus, from the Kraus Organization, led the transaction with the support of Aldus Green Company L.P. as their representative. The refinance loan from Flagstar Bank allows the Kraus Organization to continue their investment in the residential elevator properties and ensure the ongoing stability and growth of the 426 residential units.