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ACRES Capital Provides $16M Construction Loan for Multifamily Project in The Bronx

653-655-Mace-Avenue

The new project at 653-655 Mace Avenue in The Bronx is within walking distance of numerous dining, shopping and entertainment options, including the New York Botanical Garden and the Bronx Zoo.

NEW YORK CITY — ACRES Capital Corp. has provided a $16 million construction loan for a 53-unit multifamily project that will be located at 653-655 Mace Ave. in the Allerton area of The Bronx. The seven-story building will be located near multiple public transit lines and will feature 15,000 square feet of amenity space. Abe Mann of Progress Capital arranged the loan on behalf of the borrower, Supreme Equities LLC.

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