Silber, Freund, sign $21.9M construction loan with Broadview for 93-unit project in Pelham Bay

Abraham Silber, Joel Freund, and Volvy Silber through the entity 3109 LLC as borrower signed a new construction loan with lender Broadview Capital valued at $21.9 million for two properties with 19 residential units including the 93-unit project at 3109 Buhre Avenue in Pelham Bay, Bronx.

On these lots, there is one active new building construction project, 220473217, for a 93-unit, 76,185 square-foot residential (R-2) building. The project was submitted by Sharon Hakmon with plans filed August 12, 2015.
The deal closed on May 29, 2025 and was recorded on June 17, 2025. The prior lender was Big Dream Developers which held debt that had an original loan amount of $1.6 million.

The loan price per planned zoning square feet is $287 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 signatory for Abraham Silber , Joel Freund, and Volvy Silber was Abraham Silber, Joel Freund, and Volvy Silber. The signatory for Broadview Capital was Lawrence Andelsman .

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the properties for the past 24 months. In addition, according to city public data, the properties have received $1,250 in ECB penalties and $75 in OATH penalties in the last year.

The neighborhood

In Pelham Bay, The bulk, or 27 percent of the 6.8 million square feet of commercial built space are elevator buildings, with specialty buildings next occupying 23 percent of the space. In sales, Pelham Bay has the 21st highest sale turnover among other neighborhoods in Bronx with $67.9 million in sales volume in the last two years. For development, Pelham Bay has had very little major development activity relative to other neighborhoods.It had 291,094 square feet of commercial and multi-family construction under development in the last two years, which represents 4 percent of the neighborhood’s built space.

The block

On the tax block of 3109 Buhre Avenue, PincusCo has identified the owners of two of the five commercial properties representing 29,455 square feet of the 40,615 square feet. The two identified owners are Joel Freund and Abraham Silber.
On the tax block, there was one new building construction project filed totaling 19,768 square feet. It is a 18-unit, 19,768 square-foot residential (R-2) building submitted by Sharon Hakmon with plans filed August 12, 2015 and permitted December 29, 2015.

The majority, or 60 percent of the 40,615 square feet of built space are elevator buildings, with walkup buildings next occupying 22 percent of the space.

The borrower

The PincusCo database currently indicates that Joel Freund owned at least three commercial properties with 13 residential units in New York City with 34,486 square feet and a city-determined market value of $3.5 million. (Market value is typically about 50% of actual value.) Within the portfolio, the bulk, or 71 percent of the 34,486 square feet of built space are elevator properties, with walkup properties next occupying 29 percent of the space. The bulk, or 71 percent of the built space, is in Bronx, with Brooklyn next at 19 percent of the space.
The PincusCo database currently indicates that Abraham Silber owned at least two commercial properties in New York City with 29,455 square feet and a city-determined market value of $1.8 million. (Market value is typically about 50% of actual value.) Within the portfolio, the bulk, or 83 percent of the 29,455 square feet of built space are elevator properties, with office properties next occupying 17 percent of the space. They are all located in Bronx.

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