Artimus signs $90M construction loan with Bank Leumi for development site in Mott Haven

Artimus through the entity E 135 And 3rd Ave Owner LLC as borrower signed a new construction loan with lender Bank Leumi valued at $90 million for a development site including the development site (V1) at 2455-2457 3rd Avenue in Mott Haven, Bronx, development site (V1) at 227 Major Deegen Expressway in Mott Haven, Bronx, and development site (V1) at N/A East 134th Street in Mott Haven, Bronx.
On December 26, 2019, Artimus filed for a 131,913-square-foot R-2 building with 139 residential units at 2455 Third Avenue.
The deal closed on August 31, 2021 and was recorded on September 14, 2021.

The signatory for Artimus was Yoav Haron.

Within a 400-foot radius of 2455-2457 3rd Avenue, Pincusco identified seven commercial real estate items of interests occurred over the past 24 months.
Of those seven items, two were in new building development. There were two new building permit applications.
Of those seven items, one was for major renovation including a certificate of occupancy change. It was a permit application filed on June 7, 2021 for the $3.0 million renovation of 55,831-square-foot R-2 building with 55 residential units at 2447 Third Avenue.
Of those seven items, two were sales above $5 million totaling $88.4 million. The most recent of the two was RXR Realty which bought the 0-square-foot industrial (G7) on EAST 134th Street and one other property for $23.7 million from Somerset Partners on March 20, 2020.
Of those seven items, two were loans above $5 million totaling $207.8 million. The most recent of the two was Cheskel Schwimmer which borrowed $163.0 million from Prime Group secured by the 155,646-square-foot, 218-unit rental (D6) on 228 East 135th Street on March 23, 2021.

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