Indigo Developers signs $9M refi with First County Bank for 27-unit rental in Olinville

Indigo Developers through the entity 3567 Willett LLC as borrower signed a refi loan with lender First County Bank valued at $9 million for the 27-unit residential elevator building (D1) at652 East 213th Street, also known as 3567 Willett Avenue, in Olinville, the Bronx.
The deal closed on June 10, 2026 and was recorded on July 7, 2026. The prior lender was IceCap Group which held debt that had an original loan amount of $6.5 million. The property has 22,759 square feet of built space according to a PincusCo analysis of city data. The loan price per built square foot is $395 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 May 6, 2025, for $850,000. The signatory for Indigo Developers was Yankev Indig .

Prior sales, articles and revenue

The owners according to the Department of Housing Preservation and Development includes Eli Fisher, head officer and Mayer Kaufman , agent. The business entity is 3567 Willett Llc.

The property

The residential elevator building with 27 residential units in Olinville has 22,759 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 50 feet and is 100 feet deep with a total lot size of 5,000 square feet. The zoning is R5A which allows for up to 1.1 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $398,000. First County Bank on June 10, 2026 bought a loan with an original principal of $6.5 millino from IceCap Group signed by Jack Oved , secured by 3567 Willett Avenue, when owned by Indigo Developers .

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 $670 in OATH penalties in the last year.

Development

On the lot, there is one active new building construction project, X01183559, for a 27-unit, 19,797 square-foot R-2 building. The project was submitted by Indigo Developers and filed by Yanky Indig with plans filed March 4, 2025 and permitted June 27, 2025.

The block

On this tax block, PincusCo has identified the owners of five of the five commercial properties representing 171,616 square feet of the 171,616 square feet. The largest owner is Isidoros Sfikas , followed by Andy Calos and then Petroleum Marketing Group .
On the tax block, there was one new building construction project filed totaling 19,797 square feet. It is a 27-unit, 19,797 square-foot residential (R-2) building submitted by Indigo Developers and filed by Yanky Indig with plans filed March 4, 2025 and permitted June 27, 2025.

The majority, or 93 percent of the 171,616 square feet of built space are elevator buildings, with walkup buildings next occupying 6 percent of the space.

The borrower

The PincusCo database currently indicates that Indigo Developers owned at least three commercial properties with 29 residential units in New York City with 8,608 square feet and a PincusCo-determined asset value of $61.9 million. The portfolio has $37.5 million in debt, borrowed from OakNorth Bank and NorthEast Community Bank . Within the portfolio, the bulk, or 75 percent of the 8,608 square feet of built space are industrial properties, with B2 properties next occupying 24 percent of the space. The bulk, or 75 percent of the built space, is in Brooklyn, with Bronx next at 24 percent of the space.

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