{"id":183879,"date":"2026-04-02T22:06:07","date_gmt":"2026-04-02T22:06:07","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/183879\/"},"modified":"2026-04-02T22:06:07","modified_gmt":"2026-04-02T22:06:07","slug":"new-plans-for-bronx-site-where-earlier-project-led-to-bankruptcy-filings-commercial-observer","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/183879\/","title":{"rendered":"New Plans for Bronx Site Where Earlier Project Led to Bankruptcy Filings \u2013 Commercial Observer"},"content":{"rendered":"

Dynamic Star<\/a> has filed plans to build a 368,469-square-foot mixed-use building at 360 West Fordham Road in the Bronx. Plans for the parcel come amid bankruptcy proceedings related to a previous plan at the site \u2014 bankruptcies initiated by Dynamic Star, the real estate development and investment firm co-founded by Gary Segal and Brad Zackson.<\/p>\n

The new application, filed with the New York City Department of Buildings on March 25, calls for a property rising 34 stories, PincusCo<\/a> first reported.<\/p>\n

SEE ALSO: Alfonso Costa Jr. of Falcone Group: 5 Questions<\/a><\/p>\n

The parcel in question, called Fordham Landing South, sits along a narrow stretch of the Harlem River, south of the University Heights Bridge.\u00a0<\/p>\n

The site was previously slated to host 927 affordable homes as part of a larger, two-part project encompassing nearly 5,000 affordable units. Fordham Landing was destined to become one of the largest new affordable housing developments in recent city history, and the largest real estate endeavor since Hudson Yards on Manhattan\u2019s far West Side<\/p>\n

Namdar Realty Group<\/a> and Gorjian Acquisitions partnered with Dynamic Star on Fordham Landing in 2022<\/a>. New York City, under then-Mayor Eric Adams, joined as a partner on Fordham Landing South in August 2025<\/a>. Financing was pledged from the New York City Department of Housing Preservation and Development, as well as a $55 million award from New York State administered by Empire State Development.<\/p>\n

The ambitious development has since become mired in legal and financial troubles.<\/p>\n

The project\u2019s lender, Brooklyn-based CREMAC Asset Management<\/a>, alleged in 2025 that Dynamic Star and its partners had defaulted on loans of $55.1 million and $18.9 million, The Real Deal<\/a> reported, and initiated a non-judicial foreclosure.\u00a0<\/p>\n

Dynamic Star recently filed for two bankruptcies, one for each Fordham Landing phase, and has sought to remove Namdar from the partnership. The firm alleged in a recent filing that Namdar\u2019s founder, Igal Namdar, purchased the loans in \u201cbrazen acts of treachery\u201d to wrest control of the project through foreclosure.\u00a0<\/p>\n

The first bankruptcy was dismissed in February, and the foreclosure process began. The second, for Fordham Landing South, was filed March 15. The debtors said they intend to obtain new investors, refinancing or government funding.<\/p>\n

How the plans for Dynamic Star\u2019s new attempt at a tower will play into the city\u2019s dreams for an affordable housing mega-development is unclear.\u00a0<\/p>\n

Dynamic Star, Namdar and Gorjian Acquisitions did not immediately respond to a request for comment.\u00a0<\/p>\n

Emily Davis can be reached at edavis@commercialobserver.com.<\/p>\n","protected":false},"excerpt":{"rendered":"Dynamic Star has filed plans to build a 368,469-square-foot mixed-use building at 360 West Fordham Road in the…\n","protected":false},"author":2,"featured_media":183880,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[73997,73998,1527,25779,2184,29841,81,11306,73999,74000,20777,9,43047,11,10],"class_list":{"0":"post-183879","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-new-york","8":"tag-360-west-fordham-road","9":"tag-brad-zackson","10":"tag-construction","11":"tag-department-of-housing-preservation-and-development","12":"tag-development","13":"tag-empire-state-development","14":"tag-eric-adams","15":"tag-fordham-landing-south","16":"tag-gary-segal","17":"tag-igal-namdar","18":"tag-legal","19":"tag-new-york","20":"tag-new-york-city-department-of-buildings-channel","21":"tag-new-york-headlines","22":"tag-new-york-news"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/183879","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=183879"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/183879\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/183880"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=183879"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=183879"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=183879"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}