Ben Shavolian signs $13.1M refi for 39-unit rental in Kingsbridge

Ben Shavolian through the entity 3436 Kings LLC as borrower signed a refi loan with lender Community Preservation Corporation through the entity CPC Mortgage Company LLC valued at $13.1 million for the 39-unit residential elevator building (D7) at 3436 Kingsbridge Avenue in Kingsbridge, Bronx.
The deal closed on February 4, 2026 and was recorded on February 10, 2026. The prior lender was Community Preservation Corporation which held debt that had an original loan amount of $12.4 million.The property has 44,544 square feet of built space according to a PincusCo analysis of city data. The loan price per built square foot is $294 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 owner bought the property on April 6, 2017, for $2.2 million. The signatory for Behrooz Shavolian also known as Ben Shavolian , was Ben Shavolian The signatory for Community Preservation Corporation was Daniel Wheeler .

Prior sales, articles and revenue

The owners according to the Department of Housing Preservation and Development includes Ben Shavolian, head officer and Joe Shavolian, officer. The business entity is 3436 Kings Llc.

The property

The residential elevator building with 39 residential units in Kingsbridge has 44,544 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 125 feet and is 111 feet deep with a total lot size of 13,950 square feet. The lot is irregular. The zoning is R6 which allows for up to 2.43 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $8.5 million. The property has 31 rent regulated units according to city tax records from 2024.

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.

Development

For the tax lot building, it received its initial certificate of occupancy on April 15, 2024. 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 this tax block, PincusCo has identified the owners of four of the seven commercial properties representing 391,552 square feet of the 454,376 square feet. The largest owner is Stagg Group, followed by New York Police Department and then Pinnacle Group.
On the tax block, there were two new building construction projects totaling 14,852 square feet. The largest is a 8,577 square-foot mercantile (M) building submitted by Curtis Sigler with plans filed March 9, 2015 and permitted August 8, 2017. The second largest is a nine-unit, 6,275 square-foot residential (R-2) building submitted by Jozef Nikaj and filed by Jozef Nikaj with plans filed January 28, 2026 and it has not been permitted yet.

The majority, or 54 percent of the 454,376 square feet of built space are elevator buildings, with walkup buildings next occupying 33 percent of the space.

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