Drew Katz's Maddd Equities, Joy Construction & Sterling National Bank Secure $50.5M Loan For Bronx Development Site

18-22 Bruckner Blvd, located in the Bronx's Mott Haven neighborhood, was the subject of a recent closed property transaction. The development site, spanning a total of 164,000 square feet, was sold for a loan amount of $50,500,000. The deal involved the following key individuals and companies:

Summary of Transaction Details

• Property Type: Development site
• Transaction Amount: $50,500,000
• Lender: Sterling National Bank
• Landlord: Drew Katz, Maddd Equities - Jorge Madruga, Joy Construction - Eli Weiss
• Broker: Brad Domenico - @Progress.Capital

Brad Domenico, representing @Progress.Capital, facilitated the transaction as the broker. The lender, Sterling National Bank, provided the loan for the acquisition of the 18-22 Bruckner Blvd development site. The property's landlords are Drew Katz from Maddd Equities, Jorge Madruga from Joy Construction, and Eli Weiss. No additional information regarding the property or the deal was available.