New York–based S3 Capital Partners has originated a $140 million construction loan for the development of two 25-story towers at 210 East 135th St. in the South Bronx, N.Y.
Cheskel Schwimmer of Chess Builders sponsored the transaction.
The assets will consist of 430 rental units, 24 hotel rooms, 5,000 square feet of commercial property, and 210 parking spaces.
The property is located four blocks from the 4, 5 and 6 subway lines and one block from Bruckner Boulevard, the main corridor for retail, bars and restaurants in the neighborhood.
“We believe in the growing potential of the South Bronx,” said Joshua Crane, co-founder and principal, S3 Capital. “The continued activity from both priv
