Prana Investments borrows $13M from Capital One to buy property in the Bronx

Prana Investments through the entity 1226 Sherman Ave. Bronx LLC And 1240 Sherman Ave. as borrower signed a loan agreement with lender Capital One valued at $12.8 million to buy 2 parcels, including the tax class multifamily, semi-fireproof (without stores) (D1) and containing 120 residential units at 1226 Sherman Avenue, 1240 Sherman Avenue in Longwood Melrose. The deal closed on March 25, 2020 and was recorded on April 10, 2020.
The property contains a total of 67,114 square feet of built space.
The average loan per unit is $106,250.

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Direct link to the city’s interactive property map, ZOLA. link

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