Bardhok Kodra signs $27.2M refi with Wells Fargo for new 84-unit rental in Williamsbridge
Bardhok Kodra through the entity 1015 Gun Hill LLC as borrower signed a refi loan with lender Wells Fargo valued at $27.2 million for the newly constructed 84-unit residential elevator building (D1) at 1015 East Gun Hill Road in Williamsbridge, Bronx.
On the lot, there was a new building construction project, X00640964, for an 84-unit, 55,771 square-foot residential (R-2) building. The project was submitted by Kodra Construction and filed by Bardhok Kodra with plans filed January 10, 2022 and permitted October 18, 2023.
The deal closed on May 29, 2025 and was recorded on June 5, 2025. The prior lender was NorthEast Community Bank which held debt that had an original loan amount of $18.4 million. The property has 55,959 square feet of built space and 950 square feet of additional air rights for a total buildable of 57,000 square feet according to a PincusCo analysis of city data. The loan price per built square foot is $486 and the price per buildable square foot is $477 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 Bardhok Kodra was Bardhok Kodra. The signatory for Wells Fargo was F. Patrick Garrison Jr. .
Prior sales and revenue
The 55,959-square-foot property generated revenue of $1.8 million or $32 per square foot, according to the most recent income and expense figures.
The property
The residential elevator building with 84 residential units in Williamsbridge has 55,959 square feet of built space and 950 square feet of additional air rights for a total buildable of 57,000 square feet according to a PincusCo analysis of city data. The parcel has frontage of 175 feet and is 120 feet deep with a total lot size of 19,000 square feet. The lot is irregular. The zoning is R6A which allows for up to 3 times floor area ratio (FAR) for residential with inclusionary housing. The city-designated market value for the property in 2022 is $380,000. The most recent loan totaled $16.3 million and was provided by NorthEast Community Bank on May 5, 2023.
Violations and lawsuits
There were no lawsuits or bankruptcies filed against the property for the past 24 months. In addition, according to city public data, the property has received $1,000 in OATH penalties in the last year.
The block
On this tax block, PincusCo has identified the owners of two of the six commercial properties representing 17,045 square feet of the 52,126 square feet. The two identified owners are Bardhok Kodra and 33 Equities.
On the tax block, there were three new building construction projects totaling 162,969 square feet. The largest is a 84-unit, 55,771 square-foot residential (R-2) building submitted by Kodra Construction and filed by Bardhok Kodra with plans filed January 10, 2022 and permitted April 5, 2023. The second largest is a 79-unit, 53,599 square-foot residential (R-2) building submitted by Alex Lakaj and filed by Alex Lakaj with plans filed March 10, 2022 and permitted May 10, 2023.
The majority, or 39 percent of the 52,126 square feet of built space are walkup buildings, with retail buildings next occupying 29 percent of the space.
The borrower
The PincusCo database currently indicates that Bardhok Kodra owned at least one commercial property with 84 residential units in New York City with 8,695 square feet and a city-determined market value of $978,000. (Market value is typically about 50% of actual value.) The portfolio has $16.3 million in debt, borrowed from NorthEast Community Bank. The portfolio consists of at least a single retail property. It is located in Bronx.
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