JCAL Development signs $55.3M construction loan for 133-unit project in Mott Haven

JCAL Development Group through the entity Willow Owner LLC as borrower signed a new construction loan with lender New York City Housing Development Corporation valued at $55.3 million for the development at 750 East 134th Street in Mott Haven, Bronx.
The deal closed on June 30, 2021 and was recorded on July 20, 2021.

The signatory for JCAL Development Group was Joshua Weismann. The signatory for New York City Housing Development Corporation was Ruth Moreira.
(210179830) Plans for a 133-unit, 113,289 square-foot R-2 were filed on July 1, 2019.
Joshua Weismann is the founder and president of JCAL Developers.  In 2019, permits were filed for a construction at this property with Altmark. 
Within a 400-foot radius of 750 East 134th Street, PincusCo identified two commercial real estate items of interests occurred over the past 24 months.
One of those two items was a sale which Sharon Hakmon’s H Holding Group, Klosed Properties, Namdar Realty Group bought the 84,650-square-foot, one-unit industrial (E9) on 780 East 135th Street for $17.5 million from Bluestone Group, Altmark Capital, and Princeton Holdings on December 11, 2019.
One of those two items was a loan which Sharon Hakmon’s H Holding Group, Klosed Properties, Namdar Realty Group borrowed $19.5 million from A10 Capital, LLC secured by the 84,650-square-foot, one-unit industrial (E9) on 780 East 135th Street on December 16, 2019.

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