


Bronx, NY According to Craig Nassi of BCN Development LLC, the firm has closed on a $10.1 million permanent loan for a 50-unit multifamily located at 2086 Valentine Ave.
The 10-year loan was provided by MetropolitanCommercial Bank. The borrower is Noa lior LLC.
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,