Bravo Property Trust Provides $80M Construction Loan for East Harlem Multifamily High-Rise
Bravo Property Trust has secured an $80 million construction loan to develop a new Class A multifamily high-rise at 2201 Third Avenue in East Harlem, New York. The project will include 194 residential units and extensive amenities such as co-working spaces, gyms, rooftop decks, and pet spas. Located near multiple subway lines (including the 4, 5, 6, 2, and 3 trains) and Metro-North at Harlem-125th Street, the property is well-positioned in a supply-constrained market with strong demand for rental housing. The development aligns with Bravo Property Trust's strategy of financing high-quality multifamily assets in urban areas. CEO Aaron Krawitz emphasized that this project supports their focus on dynamic markets near employment centers and meets growing renter needs. Since its inception, the company has financed over $2.5 billion across multifamily and healthcare real estate transactions.
Tickers: $BPT
Topics: multifamily housing New York City real estate urban development