Zalman Brody signs $11.3M construction loan with IceCap for 53-unit project in East Morrisania
916 Home Street isometric diagram (Credit - Nikolai Katz architect via DOB)
Zalman Brody through the entity 916 Home Realty LLC as borrower signed a new construction loan with lender IceCap Group through the entity Ice Lender Holdings LLC valued at $11.3 million for the two-unit 1-4 family building (B2) at 916 Home Street in East Morrisania, Bronx.
On the lot, there is one active new building construction project, X01250967, for a 53-unit, 34,412 square-foot residential (R-2) building. The project was submitted by Leapold Zicherman and filed by Leo Brody with plans filed July 11, 2025 and permitted June 10, 2026.
The deal closed on May 19, 2026 and was recorded on June 24, 2026. The prior lender was Silver Hill Capital which held debt that had an original loan amount of nan.The property has 1,875 square feet of built space and 14,932 square feet of additional air rights for a total buildable of 16,787 square feet according to a PincusCo analysis of city data. The loan price per built square foot is $6,034 and the price per buildable square foot is $674 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 owner bought the property on February 9, 2023, for $650,000. The signatory for Zalman Brody was Zalman L. Brody . The signatory for IceCap Group was William Platt .
The property
The 1-4 family building with 2 residential units in East Morrisania has 1,875 square feet of built space and 14,932 square feet of additional air rights for a total buildable of 16,787 square feet according to a PincusCo analysis of city data. The parcel has frontage of 60 feet and is 84 feet deep with a total lot size of 4,880 square feet. The lot is irregular. The zoning is R7-1 which allows for up to 3.44 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $664,000.
Violations and lawsuits
There were no lawsuits or bankruptcies filed against the property for the past 24 months. In addition, according to city public data, the property has received $11,250 in ECB penalties and $12,540 in OATH penalties in the last year.
The block
On this tax block, PincusCo has identified the owners of two of the 14 commercial properties representing 15,300 square feet of the 43,275 square feet. The two identified owners are Barrington F. Smith and Juan Santiago.
On the tax block, there was one new building construction project filed totaling 34,412 square feet. It is a 53-unit, 34,412 square-foot residential (R-2) building submitted by Leapold Zicherman and filed by Leo Brody with plans filed July 11, 2025 and permitted June 10, 2026.
The majority, or 76 percent of the 43,275 square feet of built space are mixed-use buildings, with walkup buildings next occupying 23 percent of the space.
The borrower
The PincusCo database currently indicates that Zalman Brody owned at least five commercial properties with 59 residential units in New York City with 43,080 square feet and a PincusCo-determined asset value of $121.7 million. The portfolio has $59.5 million in debt, with top three lenders as NorthEast Community Bank , Cross River Bank, and Skybrook Capital respectively. Within the portfolio, the bulk, or 88 percent of the 43,080 square feet of built space are walkup properties, with C1 properties next occupying 7 percent of the space.
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