Finance  ·  CMBS

Goldman Sachs Lends $71M on Bronx Bruckner Building

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ZG Capital Partners has landed a $71 million CMBS loan for The Bruckner Building in the Bronx, Commercial Observer can first report. The 10-year loan was provided by Goldman Sachs (GS), sources said.

Newmark (NMRK)’s Daniel Fromm arranged the 10-year financing, along with Dustin Stolly and Jordan Roeschlaub.  

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Located at 2417 Third Avenue in the Bronx’s Mott Haven neighborhood, The Bruckner Building was acquired by ZG Capital Partners – an affiliate of the Zar Group that’s led by Bobby Zar and James Tamborlane – in December 2019 for approximately $64.5 million. Savanna was the seller

Originally constructed in 1928, the eight-story, 185,817-square-foot office building underwent a renovation recently that included a new lobby, new elevators with wood paneling, and the addition of a cafe amenity space on the first floor. The property is 95 percent leased to a diverse tenant roster. 

 Officials at Newmark, ZG Capital Partners and Goldman Sachs did not immediately respond to requests for comment.

Emily Fu can be reached at efu@commercialobserver.com.