Elena Borokhovich, Arkadiy Orkin sign $25M in new construction loans for two Bronx residential projects

Elena Borokhovich and Arkadiy Orkin signed two construction loans totaling $25 million with Parkview Financial for development sites in the Bronx in two separate transactions.

In the first, Elena Borokhovich and Arkadiy Orkin through 1791 MA LLC as borrower signed a loan with lender Parkview Financial REIT valued at $12.5 million for the development site (V0) at 1791 Marmion Avenue in East Morrisania, Bronx.
The deal closed on September 1, 2021 and was recorded on September 15, 2021.
(210177770) Plans for a 27-unit, 21,337 square-foot R-2 were filed on January 18, 2018.
The owner bought the property on March 10, 2021, for $1.4 million.

Within a 400-foot radius of 1791 Marmion Avenue, Pincusco identified one commercial real estate item of interests occurred over the past 24 months.
It was a permit application filed on August 19, 2021 for the $282,560.0 renovation of 7,064-square-foot R-2 building with 12 residential units at 845 Crotona Park North.

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In the second, Elena Borokhovich and Arkadiy Orkin through 1739 GA LLC as borrower signed a loan with lender Parkview Financial REIT, LP valued at $12.5 million for the project at 1739 Grand Avenue in Morris Heights, Bronx.
The deal closed on September 1, 2021 and was recorded on September 15, 2021.
(210178190) Plans for a 32-unit, 25,135 square-foot R-2 were filed on June 8, 2018. The owner bought the property on March 10, 2021, for $1.5 million.

Within a 400-foot radius of 1739 Grand Avenue, PincusCo identified five commercial real estate items of interests occurred over the past 24 months.
Of those five items, one was in new building development. It was a new building permit issued on July 31, 2020 for a 14,696-square-foot R-2 building with 15 residential units at 1760 Grand Avenue.
Of those five items, four were loans above $5 million totaling $25.8 million. The most recent of the four was Elchonon Shilian which borrowed $6.1 million from Quanta Finance secured by the 4,118-square-foot, two-unit two-family building (B2) on 1816 Harrison Avenue on August 12, 2021.

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