{"id":50504,"date":"2025-11-24T17:01:36","date_gmt":"2025-11-24T17:01:36","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/50504\/"},"modified":"2025-11-24T17:01:36","modified_gmt":"2025-11-24T17:01:36","slug":"berkadia-provides-32m-construction-takeout-loan-for-riverdale-resi-tower-commercial-observer","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/50504\/","title":{"rendered":"Berkadia Provides $32M Construction Takeout Loan for Riverdale Resi Tower \u2013 Commercial Observer"},"content":{"rendered":"<p><a href=\"https:\/\/commercialobserver.com\/company\/stagg-group\/\" title=\"Stagg Group\" class=\"company-link\" rel=\"nofollow noopener\" target=\"_blank\">Stagg Group<\/a> has landed $32.4 million of construction takeout financing for a newly completed multifamily property in the Riverdale section of the Bronx, Commercial Observer has learned.<\/p>\n<p><a href=\"https:\/\/commercialobserver.com\/company\/berkadia\/\" title=\"Berkadia\" class=\"company-link\" rel=\"nofollow noopener\" target=\"_blank\">Berkadia<\/a> originated the 10-year Freddie Mac-backed loan for The Riverdale Tower that was built in 2024. Matt Nihan, senior director at Berkadia, led the origination of the 89-unit complex at 3745 Riverdale Avenue.\u00a0<\/p>\n<p>SEE ALSO: <a href=\"https:\/\/commercialobserver.com\/2025\/11\/sunday-summary-debt-gratitude\/\" rel=\"nofollow noopener\" target=\"_blank\">Sunday Summary: A Debt of Gratitude<\/a><\/p>\n<p>\u201cThe Riverdale Tower is a great example of how thoughtful, well-executed development and strong financing partnerships can deliver lasting value to the Bronx,\u201d Nihan said in a statement.\u00a0<\/p>\n<p>Located off the Henry Hudson Parkway, the 18-story building is 100 percent occupied with a mix of studio to two-bedroom apartments, according to Stagg Group. The property received a tax abatement under New York City\u2019s former 421a program, as 27 of the units are designated as affordable housing.\u00a0<\/p>\n<p>Community amenities include a fitness center, community room, pickleball court and garage parking.\u00a0<\/p>\n<p>\u201cOur mission has always been to expand access to quality housing in the Bronx, and this project reflects both the demand we continue to see and our long-standing commitment to the borough,\u201d Mark Stagg, founder and president of Stagg Group, said in a statement.\u00a0<\/p>\n<p>Andrew Coen can be reached at <a href=\"https:\/\/commercialobserver.com\/2025\/11\/berkadia-riverdale-bronx-apartments\/mailto:acoen@commercialobserver.com\" rel=\"nofollow noopener\" target=\"_blank\">acoen@commercialobserver.com<\/a>.\u00a0<\/p>\n<p>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"Stagg Group has landed $32.4 million of construction takeout financing for a newly completed multifamily property in the&hellip;\n","protected":false},"author":2,"featured_media":50505,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[38],"tags":[128,28247,12727,9,24,63,129,131,130],"class_list":["post-50504","post","type-post","status-publish","format-standard","has-post-thumbnail","category-the-bronx","tag-bronx","tag-mark-stagg","tag-matt-nihan","tag-new-york","tag-new-york-city","tag-nyc","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\/50504","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=50504"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/50504\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/50505"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=50504"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=50504"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=50504"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}