OakNorth Provides $7.1 Million Loan for Acquisition, Redevelopment of Retail Property in the Bronx

New York City — OakNorth, a digital commercial bank and financial technology company, has provided a $7.1 million loan for the acquisition of 5546 Broadway, a 10,000-square-foot retail property located within the Marble Hill/Kingsbridge neighborhood of The Bronx. The property has roughly 200 feet of frontage on Broadway and at the main entrance to the 114,000-square-foot Broadway Plaza Mall.

The buyers, Crown Acquisitions and KSR Capital, will use the loan to redevelop the property, support tenant improvements and fund leasing costs.