Franco Sukaj signs $9.8M refi for 39-unit rental in Parkchester

Franco Sukaj through the entity 1546 Wpr LLC as borrower signed a refi loan with lender Wells Fargo valued at $9.8 million for the 39-unit residential elevator building (D1) at 1550 White Plains Road in Parkchester, Bronx.
The deal closed on August 28, 2025 and was recorded on September 17, 2025. The prior lender was NorthEast Community Bank which held debt that had an original loan amount of $8.5 million.The property has 33,586 square feet of built space according to a PincusCo analysis of city data. The loan price per built square foot is $290 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 signatory for Franco Sukaj was Franco Sukaj. The signatory for Wells Fargo was F. Patrick Garrison Jr. .

Prior sales and revenue

The owners according to the Department of Housing Preservation and Development includes Franco Sukaj, head officer and Nush Sukaj, agent. The business entity is 1546 Wpr Llc.

The property

The residential elevator building with 39 residential units in Parkchester has 33,586 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 99 feet and is 90 feet deep with a total lot size of 8,978 square feet. 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 $6.7 million. NorthEast Community Bank on June 29, 2023 bought a loan with an original principal of 8500000.0 from NorthEast Community Bank signed by Franco Sukaj, secured by 1550 White Plains Road, when owned by Franco Sukaj.

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 $180 in OATH penalties in the last year.

Development

On the lot, there is one active new building construction project, X00594578, for a 39-unit, 28,393 square-foot R-2 building. The project was submitted by Nush Sukaj and filed by Nush Sukaj with plans filed September 15, 2021 and permitted June 16, 2022.

The block

On this tax block, PincusCo has identified the owners of one of the 16 commercial properties representing zero square feet of the 278,435 square feet. The identified owner is Nush Sukaj.
On the tax block, there was one new building construction project filed totaling 28,393 square feet. It is a 39-unit, 28,393 square-foot residential (R-2) building submitted by Nush Sukaj and filed by Nush Sukaj with plans filed September 15, 2021 and permitted June 16, 2022.

The majority, or 75 percent of the 278,435 square feet of built space are industrial buildings, with walkup buildings next occupying 16 percent of the space.

The borrower

The PincusCo database currently indicates that Franco Sukaj owned at least nine commercial properties with 273 residential units in New York City with 174,566 square feet and a city-determined market value of $19.2 million. (Market value is typically about 50% of actual value.) The portfolio has $29 million in debt, with top three lenders as Greystone & Co., Ponce Bank, and NorthEast Community Bank respectively. Within the portfolio, the bulk, or 71 percent of the 174,566 square feet of built space are elevator properties, with retail properties next occupying 15 percent of the space. They are all located in Bronx.

Direct link to Acris document. link