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Ben Ashkenazy's Ashkenazy Acquisition Refinances Cross Bronx Plaza With Voya Financial For $30M

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FINANCED
$30,000,000

New York

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Retail134,000 SF
Financed 05/22/2025
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Property Image
FINANCED

Ben Ashkenazy's Ashkenazy Acquisition Refinances Cross Bronx Plaza With Voya Financial For $30M

961 East 174th Street

See Similar Deals
Retail134,000 SF
Financed 05/22/2025
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:Retail
Price Per Square Foot:$223
Total Square Footage:134,000 SF
Transaction Type:Loan

The retail asset involved in the transaction is located at 961 East 174th Street in East Morrisania, Bronx. The asset encompasses a building size of 134,000 square feet and has a building square footage of 1,137,094. The market for this property is East Morrisania.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $30,000,000
  • Lender: Voya Financial
  • Landlord: Ben Ashkenazy - Ashkenazy Acquisition
  • Loan Type: Refinance
  • Date of Transaction: 05/22/2025

The transaction sees Ashkenazy Acquisition refinancing the Cross Bronx Plaza retail center through a loan arrangement facilitated by Voya Financial. This refinancing specifically pertains to the retail center located at the aforementioned address, indicating a strategic financial maneuver in the East Morrisania market.

Players

Voya Financial
Voya Financial
LENDER
BA
Ashkenazy Acquisition
Ben Ashkenazy
16 deals$721.3M volume
LANDLORD

Details

FINANCED
IMAGE: Ben Ashkenazy DATE: 05/22/2025 ADDRESS: 961 East 174th Street MARKET: East Morrisania ASSET TYPE: Retail ~ BSF: 1,137,094 ~ SF: 134,000 LENDER: Voya Financial (@Voya) LANDLORD: Ben Ashkenazy - Ashkenazy Acquisition (@AACRealty) LOAN AMOUNT: $30,000,000 LOAN TYPE: Refinance NOTE: Ashkenazy Acquisition refinanced the Cross Bronx Plaza retail center at 961 East 174th Street in East Morrisania, Bronx, with a $30 million loan from Voya Financial on May 22, 2025.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$30,000,000.00

Monthly NOI$200,000.00
Monthly Debt Service$189,620.41
Change in Cash Flow$0.00
Refinance Proceeds$0.00