Abraham Biller signs $14.7M construction loan for dev site in Claremont Village

Abraham Biller through the entity 1527 Morris Realty L.P. as borrower signed a new construction loan with lender NorthEast Community Bank valued at $14.7 million for a development site composed of five tax lots from 1517 to 1529 Morris Avenue in Claremont Village, Bronx.
The deal closed on August 28, 2025 and was recorded on October 3, 2025. The five properties have 4,778 square feet of built space and 30,206 square feet of additional air rights for a total buildable of 34,981 square feet according to a PincusCo analysis of city data. The loan price per buildable square foot is $421 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The signatory for Abraham Biller was Abraham Biller.

The property

The zoning is R7-1 which allows for up to 3.44 times floor area ratio (FAR) for residential.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the properties for the past 24 months. In addition, according to city public data, the properties have received one DOB violation, $17,400 in ECB penalties, 24 housing violations, and $34,000 in OATH penalties in the last year.

Development

There are no active new building construction projects or major alteration projects with initial costs more than $1 million on this tax lot.

The block

On the tax block of 1517 Morris Avenue, PincusCo has identified the owners of nine of the 15 commercial properties representing 296,755 square feet of the 296,755 square feet. The largest owner is Intervest Capital Partners, followed by Finkelstein Timberger East Real Estate and then Usher Anshul.
There are no active new building construction projects on this tax block.

The majority, or 92 percent of the 296,755 square feet of built space are elevator buildings, with walkup buildings next occupying 8 percent of the space.

The borrower

The PincusCo database currently indicates that Abraham Biller owned at least eight commercial properties with 177 residential units in New York City with 44,981 square feet and a city-determined market value of $7.7 million. (Market value is typically about 50% of actual value.) The portfolio has $70.1 million in debt, with top three lenders as Walker & Dunlop, NorthEast Community Bank, and Orange Bank & Trust Company respectively. Within the portfolio, the bulk, or 96 percent of the 44,981 square feet of built space are elevator properties, with D1 properties next occupying 3 percent of the space. They are all located in Bronx.

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