Hirsch, Rosenfeld sign $18.8M construction loan with BX Capital for 77-unit project in Claremont Village

Isreal Chaim Hirsch and Chayim Rosenfeld through the entity 1677-79 Eastburn LLC as borrower signed a new construction loan with lender BX Capital through the entity BXC 1677-79 Eastburn Funding LLC valued at $18.8 million for the 77-unit project at 1677-1679 Eastburn Avenue in Claremont Village, Bronx.

On the lot, there is one active new building construction project, X01186318, for a 77-unit, 37,572 square-foot residential (R-2) building. The project was submitted by Lefko Capital Group and filed by Yaakov Lefkowitz with plans filed March 10, 2025 and permitted December 17, 2025.
The deal closed on March 31, 2026 and was recorded on April 10, 2026. The prior lender was BX Capital which held debt that had an original loan amount of $6.7 million.
The signatory for Isreal Chaim Hirsch and Chayim Rosenfeld was Isreal Chaim Hirsch and Chayim Rosenfeld.

The property

The zoning is R8 which allows for up to 6.02 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $778,000. BX Capital on March 31, 2026 bought a loan with an original principal of $6.7M from BX Capital signed by prior lender signatory, secured by 1677-1679 Eastburn Avenue, when owned by Isreal Chaim Hirsch and Chayim Rosenfeld.

Transaction Participants

Marc J. Gurell at Seyfarth Shaw LLP participated in the transaction on behalf of the lender.

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 $2,800 in OATH penalties in the last year.

The block

On this tax block, PincusCo has identified the owners of six of the seven commercial properties representing 250,899 square feet of the 286,999 square feet. The largest owner is Eli Bleeman, followed by David Kleiner and then Chestnut Holdings Of New York.
On the tax block, there was one new building construction project filed totaling 37,572 square feet. It is a 77-unit, 37,572 square-foot residential (R-2) building submitted by Lefko Capital Group and filed by Yaakov Lefkowitz with plans filed March 10, 2025 and permitted December 17, 2025.

The majority, or 87 percent of the 286,999 square feet of built space are elevator buildings, with walkup buildings next occupying 13 percent of the space.

The borrower

The PincusCo database currently indicates that chayim rosenfeld owned at least four commercial properties with 80 residential units in New York City with 58,512 square feet and a city-determined market value of $5.4 million. (Market value is typically about 50% of actual value.) Within the portfolio, the bulk, or 92 percent of the 58,512 square feet of built space are industrial properties, with C0 properties next occupying 8 percent of the space. The bulk, or 67 percent of the built space, is in Bronx, with Brooklyn next at 33 percent of the space.

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