SKF Development signs $23.2M refi loan with Ladder Capital in Tremont

SKF Development through the entity 2306 Webster Development LLC as borrower signed a refi loan with lender Ladder Capital Finance through the entity Ladder Capital Finance LLC valued at $23.2 million for commercial condo units with an address at 2302 Webster Avenue in Tremont, Bronx.
The deal closed on June 30, 2021 and was recorded on July 13, 2021.

The signatory for SKF Development was Ayush Kapahi.

Within a 400-foot radius of 2302 Webster Avenue, PincusCo identified eight commercial real estate items of interests occurred over the past 24 months.
Of those eight items, two were in new building development. There were one new building permit application and one new building permit. The most recent of these two items was a filing on April 27, 2021 for a 31,987-square-foot R-2 building with 40 residential units at 2324 Webster Avenue.
Of those eight items, six were loans above $5 million totaling $131.0 million. The most recent of the six was Isidoros Sfikas which borrowed $11.6 million from Jpmorgan Chase Bank secured by the 110,235-square-foot, 124-unit rental (D1) on 2332 Tiebout Avenue on May 25, 2021.

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