OakNorth provides $21m note-on-note facility to Oak Funding to support new mixed-used scheme in South Bronx, New York. The loan from will be used to support the ground up development of an eight-story, mixed-use scheme in Crotona Park, South Bronx, New York. Located a short walk from 174th St Station and several MTA bus routes, the site will offer 99 multifamily units and 7.7k sq. ft of commercial space. Once complete, residents will be able to access a bike, laundry and recreation room, as well as shared rooftop terrace.
About Oak Funding: Founded in 2022 by Jeremy Levart and Mark Meisner, the firm specializes in a wide array of real estate financing solutions, including both debt and equity strategies, for the U.S. commercial real estate sector. The firm’s lending platform prides itself on speed, flexibility, and confidence in deal execution.