Grun Group signs $6.8M construction loan for 42-unit dev site in Claremont Village

Yonah Grunhut’s Grun Group through the entity 321 E 169 LLC as borrower signed a new construction loan with lender IceCap Group through the entity Ice Lender Holdings LLC valued at $6.8 million for two tax parcel development site with 42 units planned, at 1299 Findlay Avenue in Claremont Village, Bronx.
On these lots, there is one active new building construction project, X01243818, for a 42-unit, 25,663 square-foot residential (R-2) building. The project was submitted by Yonah Grunhut of the Grun Group on June 23, 2025 and it has not been permitted yet.
The deal closed on December 15, 2025 and was recorded on January 22, 2026. The loan price per the planned 25,663 square feet is $265 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 Grun Group was Alter Nechemya Kaufman and Amrom Ganz.

The block

On the tax block of 321 East 169th Street, 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 Chestnut Holdings, followed by Belmont Arthur Avenue Local Development Corporation and then Joseph Friedman.
On the tax block, there were two new building construction projects totaling 30,159 square feet. The largest 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 second largest is a eight-unit, 4,496 square-foot residential (R-2) building submitted by 1342 Bronx Developers LLC with plans filed November 4, 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 Grun Group owned at least three commercial properties with eight residential units in New York City with 8,648 square feet and a city-determined market value of $2.3 million. (Market value is typically about 50% of actual value.) Within the portfolio, the bulk, or 72 percent of the 8,648 square feet of built space are C0 properties, with B2 properties next occupying 28 percent of the space. They are all located in Bronx.

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