Global One Investments signs $22.4M refi with Citibank for residential elevator in Riverdale

Global One Investments through the entity Henry Hudson Nelson Apartments LLC as borrower signed a refi loan with lender Citibank valued at $22.4 million for the 108-unit residential elevator building (D1) at 3240 Henry Hudson Pkwy East in Riverdale, the Bronx.

Global One Investments, led by managing partners Michael Gerstein and Robert Nelson, owns real estate, while its affiliated company Nelson Management Group manages property.
The loan closed on May 1, 2026 and was recorded on June 10, 2026. The prior lender was Flagstar Bank which held debt that had an original loan amount of $22.5 million. The property has 163,197 square feet of built space and 57,304 square feet of additional air rights for a total buildable of 220,400 square feet according to a PincusCo analysis of city data. The loan price per built square foot is $137 and the price per buildable square foot is $101 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 March 27, 2019, for $35.6 million. The signatory for Global One Investments  was Robert Nelson .

Prior sales, articles and revenue

The owners according to the Department of Housing Preservation and Development includes Christine Chorny, head officer and Richard Melendez , officer. The business entity is Henry Hudson Nelson Apartments, Llc. The 163,197-square-foot property generated revenue of $3.3 million or $20 per square foot, according to the most recent income and expense figures.

The property

The residential elevator building with 108 residential units in Riverdale has 163,197 square feet of built space and 57,304 square feet of additional air rights for a total buildable of 220,400 square feet according to a PincusCo analysis of city data. The parcel has frontage of 222 feet and is 275 feet deep with a total lot size of 55,100 square feet. The lot is irregular. The zoning is R7A which allows for up to 4 times floor area ratio (FAR) for residential with inclusionary housing. The city-designated market value for the property in 2022 is $13.2 million. The property has 68 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 received 22 housing violations and $580 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 two of the three commercial properties representing 242,697 square feet of the 405,894 square feet. The two identified owners are PGIM Real Estate and Ciporah Greenfield .
On the tax block, there was one new building construction project filed totaling 25,147 square feet. It is a 49-unit, 25,147 square-foot residential (R-2) building submitted by Revamp NYC and filed by Israel Tishler with plans filed May 20, 2026 and it has not been permitted yet.

The majority, or 100 percent of the 405,894 square feet of built space are elevator buildings, with development buildings next occupying 0 percent of the space.

The borrower

The PincusCo database currently indicates that Global One Investments owned at least two commercial properties with 357 residential units in New York City with 328,071 square feet and a PincusCo-determined asset value of $26.8 million. Within the portfolio, all identified are elevator properties.

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