Theodore Trachtenberg signs $20M refi loan with Bridge Investment for 57-unit mixed-use in Allerton

Theodore Trachtenberg through the entity 2500 Barker Development LLC as borrower signed a refi loan with lender Bridge Investment Group through the entity BDS V REIT LLC valued at $20 million for the 57-unit residential elevator building (D6) at 2500 Barker Avenue in Allerton, Bronx, which is divided into three condominium units, including one unit with all the residential apartments and two commercial units.
The deal closed on January 21, 2026 and was recorded on February 3, 2026. The prior lender was S3 Capital which held debt that had an original loan amount of $18.5 million.The four properties have 63,306 square feet of built space according to a PincusCo analysis of city data. The loan price per built square foot is $315 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 Theodore Trachtenberg was Theodore Trachtenberg. The signatory for Bridge Investment Group was Teresa Hough.

Prior sales, articles and revenue

The owner according to the Department of Housing Preservation and Development is Eli Fisher, head officer. The business entity is 2500 Barker Development Llc.

The property

The residential elevator building with 57 residential units in Allerton has 63,306 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 100 feet and is 100 feet deep with a total lot size of 10,000 square feet. The zoning is R6 which allows for up to 2.43 times floor area ratio (FAR) for residential.

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, one housing violation, and $1,530 in OATH penalties in the last year.

Development

On these lots, there was one active new building construction project, 220693961, for a 53-unit, 48,452 square-foot residential (R-2) building. The project was submitted by Abraham Wieder and filed by Abraham Wieder with plans filed March 19, 2019 and permitted February 11, 2021.

The block

On the tax block of 2500 Barker Avenue, PincusCo has identified the owners of six of the 14 commercial properties representing 177,662 square feet of the 277,333 square feet. The two identified owners are Finkelstein Timberger East Real Estate and Theodore Trachtenberg.
On the tax block, there was one new building construction project filed totaling 48,452 square feet. It is a 53-unit, 48,452 square-foot residential (R-2) building submitted by Abraham Wieder and filed by Abraham Wieder with plans filed March 19, 2019 and permitted February 11, 2021.

The majority, or 60 percent of the 277,333 square feet of built space are elevator buildings, with walkup buildings next occupying 35 percent of the space.

The borrower

The PincusCo database currently indicates that Theodore Trachtenberg owned at least two commercial properties with 129 residential units in New York City with 44,046 square feet and a city-determined market value of $7 million. (Market value is typically about 50% of actual value.) The portfolio has $26.9 million in debt, borrowed from S3 Capital and JPMorgan Chase. Within the portfolio, the bulk, or 100 percent of the 44,046 square feet of built space are elevator properties, with development properties next occupying 0 percent of the space. They are all located in Brooklyn.

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