Bravo Property Trust Finances $80 Million Construction Loan for 194-Unit Class A Multifamily High-Rise in East Harlem, New York

Construction financing for a new Class A residential tower at 2201 3rd Avenue, with access to five subway lines and Metro-North.Bravo Property Trust, a balance sheet real estate lender, announced the financing of an $80,000,000 construction loan for the development of a 194-unit Class A multifamily high-rise at 2201 3rd Avenue in East Harlem, New York. The financing will fund construction of a new residential tower in a supply-constrained New York City market with strong renter demand.The property is well positioned, with convenient access to multiple subway lines, including the 4, 5, 6, 2, and 3 trains, as well as MetroNorth at Harlem-125th Street. Continue Reading The project will feature 194 residential units and a robust amenity package, including a gym, playroom, pet spa, bike storage, co-working space, lounge, roof deck, and patio."This was exactly the kind of asset we look for: a high-quality multifamily development in a supply-constrained New York City market, with strong renter demand and proximity to major employment centers. It is an area with a lot of potential. With this financing, Bravo continues to support high-quality multifamily properties in dynamic urban markets." — Aaron Krawitz, Founder and CEO of Bravo Property TrustSince its inception, Bravo Property Trust and its affiliate Bravo Capital have financed more than $2.5 billion of primarily multifamily and healthcare real estate transactions nationwide.Media ContactJill OestreicherBravo Capital[email protected]SOURCE Bravo Capital

Bravo Property Trust Finances $80 Million Construction Loan for 194-Unit Class A Multifamily High-Rise in East Harlem, New York

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