The asset involved in this transaction is a development site located at 220 East 179th Street in the Mt Hope neighborhood of the Bronx. The total square footage of the property is 47,055 BSF. Builders Group USA is the landlord of the site.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $12,500,000
- Market: Mt Hope, Bronx
- Lender: IceCap Group
- Landlord: Yitzchok Salamon - Builders Group USA
- Loan Type: Construction
Yitzchok Salamon of Builders Group USA secured a construction loan from IceCap Group to facilitate an 80-unit residential development at the specified address. This partnership highlights the collaboration between the developer and the lending institution to advance the project.
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