NEW YORK, Mar. 17, 2025 – Bravo Property Trust, an affiliate of Bravo Capital, today announced the closing of a $36,750,000 construction loan for a 78-unit mixed-use multifamily development on Amsterdam Avenue in Upper Manhattan. The neighborhood is known for its residential charm and attracts a prime tenant base, including families, young professionals, and students.
“This project aligns with our strategy of financing well-located, high-quality developments that add long-term value to the housing market,” said Aaron Krawitz, CEO of Bravo Property Trust. Echoing this confidence, Gabi Moshayev, Chairman of Bravo Property Trust, added, “We have strong confidence in the continued growth of Upper Manhattan and remain committed to structuring financing solutions that drive long-term value creation.”
The development will benefit from New York City’s 421a tax abatement program, securing a 35-year tax exemption in exchange for reserving 30% of units as affordable housing. In addition to residential space, the project will feature ground-floor retail, which has already been pre-leased.
Galaxy Capital’s Henry Bodek and Jonathan Ostroff arranged the transaction. “Galaxy Capital is proud to have arranged this $36.75 million construction loan from Bravo Property Trust, supporting Artifact Real Estate in bringing a premier luxury multifamily development to Hamilton Heights”, Jonathan Ostroff, Executive Director at Galaxy Capital, said in a statement. “This transaction reflects our commitment to securing strategic financing for transformative projects in New York City’s dynamic real estate market.
Future residents will enjoy premium amenities, including a fitness facility, tenant lounge, coworking space, and a landscaped rooftop deck. The residences will feature luxury finishes such as custom two-tone woodwork, Scandinavian lighting, polished chrome fixtures, and LED accent lighting, enhancing the modern living experience. Conveniently located near the 155th St. and 157th St. subway stations, multiple bus lines, and Citi Bike stations, the property offers excellent transit access.
