Big Dream Developers signs $5M refi loan with BX Capital for 15-unit walkup in Claremont Village

Big Dream Developers through the entity 1323 Findlay Bx LLC as borrower signed a refi loan with lender BX Capital through the entity Broad X Funding LLC valued at $5 million for the 15-unit residential walkup building (C1) at 1323 Findlay Avenue in Claremont Village, Bronx.
The deal closed on September 30, 2025 and was recorded on October 1, 2025. The prior lender was IceCap Group which held debt that had an original loan amount of $3.6 million.The property has 7,303 square feet of built space and 3,030 square feet of additional air rights for a total buildable of 10,320 square feet according to a PincusCo analysis of city data. The loan price per built square foot is $691 and the price per buildable square foot is $489 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 December 20, 2022, for $725,000. The signatory for Big Dream Developers was Ascher Berkowitz . The signatory for BX Capital was Jeffrey Edelman .

Prior sales and revenue

The owner according to the Department of Housing Preservation and Development is Jacob Brach, head officer. The business entity is 1323 Findlay Bx Llc.

The property

The residential walkup building with 15 residential units in Claremont Village has 7,303 square feet of built space and 3,030 square feet of additional air rights for a total buildable of 10,320 square feet according to a PincusCo analysis of city data. The parcel has frontage of 30 feet and is 100 feet deep with a total lot size of 3,000 square feet. The zoning is R7-1 which allows for up to 3.44 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $494,000.

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 $1,700 in OATH penalties in the last year.

Development

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 seven of the 19 commercial properties representing 133,555 square feet of the 198,995 square feet. The largest owner is Denali Management, followed by Belmont Arthur Avenue Local Development Corporation and then Joseph Friedman.
On the tax block, there was one new building construction project filed totaling 25,663 square feet. It is a 42-unit, 25,663 square-foot residential (R-2) building submitted by Grun Group and filed by Yonah Grunhut with plans filed June 23, 2025 and it has not been permitted yet.

The majority, or 68 percent of the 198,995 square feet of built space are walkup buildings, with elevator buildings next occupying 24 percent of the space.

The borrower

The PincusCo database currently indicates that Big Dream Developers owned at least six commercial properties with 40 residential units in New York City with 53,088 square feet and a city-determined market value of $6.4 million. (Market value is typically about 50% of actual value.) The portfolio has $43.1 million in debt, with top three lenders as Golden Bridge Funding, Deutsche Bank, and KeyBank respectively. Within the portfolio, the bulk, or 43 percent of the 53,088 square feet of built space are office properties, with elevator properties next occupying 38 percent of the space. The bulk, or 81 percent of the built space, is in Brooklyn, with Bronx next at 19 percent of the space.

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