Isaac Franco pays $5.7M to Ponce Bank for retail building in Kingsbridge

Isaac Franco through the entity Mmd Broadway LLC paid $5.7 million to Ponce Bank through the entity Ponce Bank for retail building (K1) at 5560 Broadway in Kingsbridge, Bronx.
The deal closed on June 4, 2021 and was recorded on July 15, 2021.
The property has 5,100 square feet of built space and 7,293 square feet of additional air rights for a total buildable of 12,393 square feet according to PincusCo analysis of city data. The sale price per built square foot is $1,124 and the price per buildable square foot is $462 per the PincusCo analysis.
The signatory for Ponce Bank was Eric Rozborski. The signatory for Isaac M. Franco was Isaac M. Franco.
Over the past five years, there have been 2 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 2 renovation/alteration projects (A2) applied for with a total estimated value of $435,000.
Within a 400-foot radius of 5560 Broadway, PincusCo identified one commercial real estate item of interests occurred over the past 24 months.
It was a loan which East Coast Holdings borrowed $12.2 million from Peapack-Gladstone Bank secured by the 57,000-square-foot, 49-unit rental (D1) on 3054 Godwin Terrace on July 9, 2021.

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