B&B Development signs $8M initial loan for 35-unit dev site in Wakefield

B&B Development through the entity B & B 19 LLC as borrower signed a initial loan with lender NorthEast Community Bank valued at $8 million for a development site at 4563 Furman Avenue in Wakefield, Bronx.
The deal closed on September 17, 2025 and was recorded on October 1, 2025.

On the lot, there is one active new building construction project, X01094721, for a 35-unit, 23,620 square-foot residential (R-2) building. The project was submitted by Elvis Dushi with plans filed August 14, 2024 and it has not been permitted yet.
The owner bought the property on August 19, 2024, for $990,000. The signatory for B&B Development was Elvis Dushi .

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 not received any significant violations in the last year.

The block

On this tax block, PincusCo has identified the owners of four of the 19 commercial properties representing 64,304 square feet of the 101,264 square feet. The largest owner is Tejpal Sandhu, followed by Vertical Community Development and then Rabindranauth Persaud.
On the tax block, there was one new building construction project filed totaling 23,620 square feet. It is a 35-unit, 23,620 square-foot residential (R-2) building submitted by Elvis Dushi and filed by Elvis Dushi with plans filed August 14, 2024 and it has not been permitted yet.

The majority, or 97 percent of the 101,264 square feet of built space are industrial buildings, with mixed-use buildings next occupying 3 percent of the space.

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