Azorim Secures $69M Construction Loan for Yonkers Development
The Israel-based firm built the first three towers between 2013 and 2024
By Brian Pascus July 2, 2026 1:52 pm
reprints
The fourth and final tower in a decade-long, multiphase development in Westchester County just secured construction capital.
Israel-based development firm Azorim has secured $68.75 million in construction financing to build Miroza Tower 4, a 14-story, 174-unit luxury apartment tower that will complete the Miroza at Ridge Hill master-planned development in Yonkers, N.Y.
Western Alliance Bank provided the debt, structured as a fixed-rate, interest-only construction loan, while Walker & Dunlop’s Jonathan Zilber, Joel Chetner and Mackenzie Kerin arranged the transaction.
Zilber, senior managing director of capital markets real estate finance at Walker & Dunlop, described Azorim as “a best-in-class sponsor” in a statement, and noted that his firm previously arranged $145 million in new financing for the second and third towers of the Miroza development project for Azorim in late 2025.
“Despite ongoing market headwinds, our deep familiarity with the sponsorship and ability to optimize the project’s PILOT and market-rate bond structure enabled us to deliver a highly competitive financing solution,” said Zilber.
Miroza at Ridge Hill is at 599 Ridge Hill Boulevard in Yonkers, New York’s third-largest city after the Big Apple and Buffalo, and only 15 miles north of Manhattan on the Hudson River. Miroza Tower 4 will deliver 174 units and 248 parking spaces to Ridge Hill, a live-work-play town square near the Grassy Sprain Reservoir and Sprain Ridge Park in Yonkers.
The four-building Miroza residential complex totals 520 units and saw the first three towers open in 2013, 2023 and 2024.
Miroza’s buildings are connected by a 25,000-square-foot amenity center with a swimming pool, a basketball court, a movie theater and a running track. That connection turns the apartments into a self-contained city, and steps from the well-regarded restaurants and medical center of the Ridge Hill neighborhood.
Azorim did not respond to requests for comment.
Brian Pascus can be reached at bpascus@commercialoberver.com.
