- Founded by the Chera family, Crown Acquisitions is a New York-based real estate investment firm with more than 100 years of combined real estate experience across New York City and North America;
- Crown has acquired and developed billions of dollars of high-profile commercial real estate assets, with a portfolio spanning 75 assets and 10m sq. ft. under management;
- The $7.1m loan from OakNorth will support the acquisition and redevelopment of a 10,000 sq. ft. retail property at 5546 Broadway in the Bronx, New York;
- Located at the main entrance to Broadway Plaza Mall, the property benefits from approximately 200 ft. of Broadway frontage, strong footfall and excellent transport links, including the nearby 231st Street subway station.
NYC, US, 8th October, 2026: OakNorth, the digital bank for entrepreneurs, by entrepreneurs, has provided a $7.1m loan to Crown Acquisitions and KSR Capital to support the acquisition and redevelopment of a retail property at 5546 Broadway in the Bronx, New York.
Founded by Stanley Chera and Isaac Chera Sr., Crown Acquisitions is a New York-based real estate investment firm comprising a seasoned team of professionals with more than 100 years of combined real estate experience. Investing as a principal, Crown has acquired and developed billions of dollars of high-profile commercial real estate assets across North America, with a portfolio spanning urban retail and commercial, suburban office and branded residential properties.
The bespoke $7.1m loan from OakNorth will support the acquisition of the 10,000 sq. ft. retail property, as well as a significant leasing programme to reconfigure and upgrade the space. The funding will also support tenant improvements and leasing costs. The property is located in the Marble Hill/Kingsbridge neighbourhood of the north-west Bronx, with approximately 200 ft. of frontage on Broadway and at the main entrance to Broadway Plaza Mall.
The 114,000 sq. ft. mall attracts approximately 2.5m visitors annually and is anchored by national brands including Aldi, Starbucks, TJ Maxx, Best Buy and Bob’s Discount Furniture. The property also benefits from excellent public transport connectivity, with the 231st Street subway station a short walk away.
Isaac Chera, Principal at Crown Acquisitions, commented on the transaction: “This property represents a compelling opportunity to reposition a well-located retail asset in an established New York neighborhood, where we are already seeing strong occupier interest. OakNorth’s understanding of the regional retail real estate market, combined with its expertise in structuring financing around acquisition and lease-up strategies, made them a natural partner for us on this transaction. The team moved quickly, understood our business plan and provided the flexibility we needed to execute it.”
Dylan Jagjivan, Director of Debt Finance at OakNorth, said: “Crown has an exceptional track record in New York retail, with deep knowledge of what national and local occupiers require and longstanding relationships across the market. The property is in a strong neighbourhood retail location, with significant Broadway frontage, excellent transport links and the Broadway Plaza Mall immediately behind it. The early leasing interest from established national brands further demonstrates the demand for the space. We are delighted to support Crown on this acquisition and look forward to building our relationship with the team.”
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Notes to editors
About OakNorth
Launched in September 2015, OakNorth is the bank for entrepreneurs, by entrepreneurs. It was founded to address the persistent funding gap facing lower mid-market businesses – a segment that accounts for a significant share of economic output yet remains underserved by traditional banks.
To date, OakNorth has provided over $22bn in lending to thousands of entrepreneur-led businesses across the UK and US, supporting the creation of more than 70,000 jobs and generating more than $53bn in economic value. Throughout multiple economic cycles, the bank has maintained a highly disciplined approach to credit, delivering performance metrics that place it among the top 1% of commercial banks globally.
It is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
Visit www.oaknorth.co.uk for more information.