Timber Equities Secures $17.5 Million in Construction Financing for 2395 Palisade Avenue in The Bronx

Rendering of 2395 Palisade Avenue in The Bronx - LuxeVisualRendering of 2395 Palisade Avenue in The Bronx - LuxeVisual

Developer Timber Equities recently secured $17.5 million in construction financing to complete 2395 Palisade Avenue, a new residential property in the Spuyten Duyvil neighborhood of The Bronx.

Designed by Kutnicki Bernstein Architects, the project is perched above Spuyten Duyvil Shorefront Park and will eventually offer expansive views of the Hudson River and the New Jersey Palisades. The building will contain 55 rental homes, an underground parking lot, a communal lounge, a fitness center, and a shared roof deck. Specific amenities at the roof level will include outdoor cooking areas and a landscaped garden.

As revealed in the latest architectural renderings, select units will include a private balcony or a terrace, many of which will face the Hudson River. The primary façade is constructed of gray and tan masonry with large windows encased in dark metal framing.

Rendering of 2395 Palisade Avenue in The Bronx - LuxeVisual

Rendering of 2395 Palisade Avenue in The Bronx – LuxeVisual

Construction broke ground earlier this year and is now in the foundation phase. When complete, total built up area will measure 50,000 square feet.

The construction loan was financed by The Bank Hapoalim Group, one of Israel’s leading credit card companies that is headquartered in Tel Aviv.

“We are very fortunate to be working with Bank Hapoalim on this exciting project,” said Timber Equities principal Joe Seidenfeld. “We look forward to delivering what will undoubtedly be Riverdale’s most desirable rental address in the fall of 2021.”

Aerial view of construction at 2395 Palisade Avenue

Aerial view of construction at 2395 Palisade Avenue

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5 Comments on "Timber Equities Secures $17.5 Million in Construction Financing for 2395 Palisade Avenue in The Bronx"

  1. Looking forward to the arrival of “Villa Bad Karma”, a well deserved title earned by documentable major DOB and DEP violations that placed the community at risk.

  2. Developers destroyed a truly beautiful building to create a boring box. Hoping they fail miserably.

  3. Surprised they were able to get enough given the companies short but terrible tract record in Riverdale; mountains of violations, irresponsible contractors, and shoddy dealings to destroy a historic building…

  4. Lied to the community and destroyed the architectural treasure that was Villa Rosa Bonheur. Timber is just another slimy developer ruining any charm left in NYC.

  5. Charles G Brophy | August 21, 2020 at 10:41 pm | Reply

    Loss of this historic home is tragic. I understand that this multi family home was a home for families working at the nearby Johnson Foundry.

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