Benny Wercberger signs $19.5M construction loan for 99-unit project in Mt Hope

Benny Wercberger through the entity Mt Hope 27 LLC as borrower signed a new construction loan with lender NorthEast Community Bank for a 99-unit project planned for 27-29 Mt Hope Place in Mt Hope, Bronx.
The deal closed on April 23, 2026 and was recorded on April 29, 2026. The property has 4,096 square feet of built space and 14,718 square feet of additional air rights for a total buildable of 18,812 square feet according to a PincusCo analysis of city data. The loan price per built square foot is $4,757 and the price per buildable square foot is $1,035 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 November 10, 2025, for $3.5 million. The signatory for Benny Wercberger was Benny Wercberger. This is for a 99-unit building on lots 32, 33. Joel Brach of Buildhouser borrowed $21.1 million for an affiliated 99-unit project next door at 23 Mt Hope Place.

Prior sales, articles and revenue

The owners according to the Department of Housing Preservation and Development includes Emanuel Gutzmer, individual owner and Ferdo Skrelja, site manager.

The property

The 1-4 family building with 4 residential units in Mt Hope has 4,096 square feet of built space and 14,718 square feet of additional air rights for a total buildable of 18,812 square feet according to a PincusCo analysis of city data. The parcel has frontage of 25 feet and is 125 feet deep with a total lot size of 3,125 square feet. The zoning is R8 which allows for up to 6.02 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $639,000. NorthEast Community Bank on April 23, 2026 bought a loan with an original principal of price not available from prior lender signed by prior lender signatory, secured by 29 Mt Hope Place, when owned by Benny Wercberger.

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 six of the 10 commercial properties representing 91,123 square feet of the 131,650 square feet. The largest owner is Mbd Community Housing Corporation, followed by Buildhouser and then Mount Hope Housing Company.
On the tax block, there were two new building construction projects totaling 137,929 square feet. The largest is a 99-unit, 71,622 square-foot residential (R-2) building submitted by Buildhouser and filed by Joel Brach with plans filed May 16, 2025 and permitted March 19, 2026. The second largest is a 99-unit, 66,307 square-foot residential (R-2) building submitted by Buildhouser and filed by Joel Brach with plans filed May 19, 2025 and permitted April 15, 2026.

The majority, or 85 percent of the 131,650 square feet of built space are walkup buildings, with industrial buildings next occupying 11 percent of the space.

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