Igal Namdar Of Namdar Realty Group Secures $26.6M Loan For Little Italy Multifamily Portfolio

The transaction involves a multifamily asset located at 312 Manhattan Avenue, 548 East 183rd Street, and 2505 Hoffman Street in the Little Italy neighborhood of Bronx. The deal encompasses a total of 310 apartments within a 20-property portfolio. The landowners associated with the transaction are Igal Namdar of Namdar Realty Group, Steven Kachanian from Klosed Properties, along with Aaron Etessami and Ramin Abdolazadeh.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $26,600,000
• Lender: Reznik Paz Nevo Trusts
• Landlord: Igal Namdar - Namdar Realty Group
• Landlord: Steven Kachanian - Klosed Properties
• Landlord: Aaron Etessami
• Landlord: Ramin Abdolazadeh
• Previous Loan Amount: $147,140,000

The deal was facilitated by the landowners securing an additional debt loan from the Reznik Paz Nevo Trusts, complementing a prior loan arrangement established in 2024. This financing arrangement plays a significant role in the ongoing property management and development strategies of the involved parties.