{"id":216860,"date":"2026-05-01T17:37:12","date_gmt":"2026-05-01T17:37:12","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/216860\/"},"modified":"2026-05-01T17:37:12","modified_gmt":"2026-05-01T17:37:12","slug":"jcal-development-secures-26m-refi-for-south-bronx-apartment-building-commercial-observer","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/216860\/","title":{"rendered":"JCAL Development Secures $26M Refi for South Bronx Apartment Building \u2013 Commercial Observer"},"content":{"rendered":"<p>Bronx-based private real estate development and construction company <a href=\"https:\/\/commercialobserver.com\/company\/jcal-development\/\" title=\"JCAL Development\" class=\"company-link\" rel=\"nofollow noopener\" target=\"_blank\">JCAL Development<\/a> Group has secured a loan to refinance the Bridgeline apartments in the South Bronx.<\/p>\n<p><a href=\"https:\/\/commercialobserver.com\/company\/webster-bank\/\" title=\"Webster Bank\" class=\"company-link\" rel=\"nofollow noopener\" target=\"_blank\">Webster Bank<\/a> provided the two-year, fixed-rate loan for $26.35 million to shore up the finances of the 91-unit luxury building at 329 East 132nd Street in the Mott Haven neighborhood of the Bronx, according to <a href=\"https:\/\/commercialobserver.com\/company\/cushman-wakefield\/\" title=\"Cushman &amp; Wakefield\" class=\"company-link\" rel=\"nofollow noopener\" target=\"_blank\">Cushman &amp; Wakefield<\/a>, which arranged the transaction.<\/p>\n<p>SEE ALSO: <a href=\"https:\/\/commercialobserver.com\/2026\/05\/bridgecity-capital-prospect-heights-brooklyn-apartments-2\/\" rel=\"nofollow noopener\" target=\"_blank\">BridgeCity Capital Lends $38M for Prospect Heights Apartments Build<\/a><\/p>\n<p>The building along the Harlem River began leasing to tenants in August 2018, <a target=\"_blank\" rel=\"noopener nofollow\" href=\"https:\/\/newyorkyimby.com\/2018\/08\/leasing-begins-for-bridgeline-apartments-at-329-east-132nd-street-in-mott-haven-the-bronx.html\">according to New York YIMBY<\/a>.<\/p>\n<p>\u201cThe Bridgeline benefits from a sought-after mix of high-quality Class A product that is situated on a transit-oriented site in the Bronx, affording residents easy access into Manhattan,\u201d Brad Domenico, vice chair at C&amp;W, said in a statement. \u201cThose fundamentals, combined with stabilized occupancy and amenities typically seen in higher-barrier submarkets, drove significant lender interest for this deal and, ultimately, a smooth close.\u201d<\/p>\n<p>Domenico, part of C&amp;W\u2019s equity, debt and structured finance team, represented the borrower alongside Frank Stanislaski and Ethan Thompson.<\/p>\n<p>Webster Bank did not immediately respond to a request for comment.<\/p>\n<p>It\u2019s unclear whether the refinancing retires a $22.1 million construction loan from First Niagara Bank that was issued<a href=\"https:\/\/commercialobserver.com\/2016\/08\/first-niagara-provides-22m-construction-loan-on-bronx-multifamily-property\/\" rel=\"nofollow noopener\" target=\"_blank\"> in 2016<\/a> when the building was being developed with Altmark Group.<\/p>\n<p>The 12-story building was designed by Aufgang Architects and features hardwood floors\u00a0 and floor-to-ceiling windows. It is composed mostly of studio and two-bedroom apartments.<\/p>\n<p>Mark Hallum can be reached at <a href=\"https:\/\/commercialobserver.com\/2026\/05\/jcal-development-refinance-329-east-132nd-street-bronx\/mailto:mhallum@commercialobserver.com\" rel=\"nofollow noopener\" target=\"_blank\">mhallum@commercialobserver.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"Bronx-based private real estate development and construction company JCAL Development Group has secured a loan to refinance the&hellip;\n","protected":false},"author":2,"featured_media":216861,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[38],"tags":[85468,85469,85470,128,76689,1603,85471,9,24,63,80559,129,131,130],"class_list":["post-216860","post","type-post","status-publish","format-standard","has-post-thumbnail","category-the-bronx","tag-329-east-132nd-street","tag-brad-domenico","tag-bridgeline","tag-bronx","tag-ethan-thompson","tag-finance","tag-frank-stanislaski-channel","tag-new-york","tag-new-york-city","tag-nyc","tag-refinance","tag-the-bronx","tag-the-bronx-headlines","tag-the-bronx-news"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/216860","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=216860"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/216860\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/216861"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=216860"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=216860"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=216860"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}