Leviathan bronx.png" width="250" />
Bronx, NY According to Leviathan Capital, Peter Cohen has arranged a $2 million construction loan for an affordable housing development in the Tremont neighborhood.
The project will deliver a 10-unit multifamily building upon completion and was financed with an 18-month construction loan at a 9.875% rate.
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,