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883-885 Bryant Avenue
FINANCED

Urban Standard Capital Closes $5.5M Loan For Bronx Development Site

883-885 Bryant Avenue

Development Site
25,523 SF
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Summary

Loan
NEW YORK
Development Site
25,523 sqft

A development site located at 883-885 Bryant Avenue in Bronx was involved in a recent closed transaction. The property, with a buildable square footage (BSF) of 25,523, was part of the PFASH program. The loan amount for this transaction was $5,500,000.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Date: 06/30/2021
  • Address: 883-885 Bryant Avenue, Bronx
  • Market: Bronx
  • BSF: 25,523

The loan for this transaction was provided by Urban Standard Capital, with Charlie Brosens and Jeremy Plofker representing the lender. The landlord involved in the deal was Gregory Harvey. Chaim Greenfeld served as the broker for this transaction.

According to a note from @USC_NYC, the sponsor chose Urban Standard Capital due to their ability to close the loan quickly and with certainty. This loan was closed in less than two weeks, making it the final PFASH project to close before the program ended. For all bridge and construction opportunities, interested parties can reach out to Charlie ([email protected]) and Robert ([email protected]).

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Chaim Greenfeld's profile picture
Chaim Greenfeld
Eastdil Secured-image
Vice President
$22.5M Sold

Details

Deal Summary
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FINANCED
IMAGE: Charlie Brosens & Jeremy Plofker DATE: 06/30/2021 ADDRESS: 883-885 Bryant Avenue MARKET: Bronx ASSET TYPE: Development Site ~ BSF: 25,523 LENDER: Urban Standard Capital (@USC_NYC) - Charlie Brosens & Jeremy Plofker LANDLORD: Gregory Harvey BROKER: Chaim Greenfeld LOAN AMOUNT: $5,500,000 NOTE FROM @USC_NYC: With the PFASH program deadline quickly approaching, the sponsor identified USC as a partner that could close with certainty and speed. USC was able to close this loan in less than two weeks and this was the last PFASH project to close before the program ended. For all bridge and construction opportunities, email Charlie ([email protected]) and Robert ([email protected]).

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Address883-885 Bryant Avenue

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