Bravo Property Trust finances an $80 million construction loan for a 194-unit Class A apartment high-rise at 2201 3rd Avenue in East Harlem, New York.

Bravo Property Trust finances $80 million construction loan for 194-unit Class A multifamily high-rise in East Harlem

Bravo Property Trust, a balance sheet real estate lender and affiliate of Bravo Capital, has financed 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 Metro-North at Harlem-125th Street.

"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, Bravo Property Trust

About Bravo Property Trust

Bravo Property Trust is the balance sheet lending affiliate of Bravo Capital, providing construction, bridge, Bridge-to-HUD and mezzanine loans for multifamily and healthcare properties. Since 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.