Vaja Group signs $19.1M construction loan in East Morrisania

Vaja Group through the entity Stebbins Owner LLC as borrower signed a new construction loan with lender Northeast Community Bank valued at $19.1 million for two industrials including the industrial (G7) at 1420 Stebbins Avenue in East Morrisania, Bronx and industrial (G7) at 1422 Stebbins Avenue in East Morrisania, Bronx.
The deal closed on December 1, 2021 and was recorded on December 15, 2021.
(X00541811) Plans for a 73-unit, 67,326 square-foot R-2 were filed on June 30, 2021.

The signatory for Vaja Group was Moses Freund.

Moses Freund is a managing partner at the Vaja Group.

Within a 400-foot radius of 1420 Stebbins Avenue, PincusCo identified one commercial real estate item of interests occurred over the past 24 months.
It was a loan which Louie Nine Boulevard Associates, L.P. borrowed $14 million from Signature Bank secured by the 94,061-square-foot, 99-unit rental (D7) on 1490 Boston Road on November 5, 2021.

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