120 East 144th Street in New York City

SCALE Lending Provides $150 Million Construction Loan for Residential Tower in the Bronx

by Channing Hamilton

NEW YORK CITY — SCALE Lending has provided a $150 million construction loan for a 13-story development located at 120 East 144th Street in the Mott Haven neighborhood of the Bronx. The borrower, The Beitel Group, will use the funds to complete the construction of the building. Leah Paskus of Landstone Capital Group arranged the loan. Prestige Construction NY will serve as the general contractor for the project. S. Wieder Architect PC is the architect.

The Beitel Group originally purchased the site in 2022. The existing building on the property was demolished, and the site is being fully redeveloped. Once completed, the community will comprise 450 units in studio, one- and two-bedroom layouts. Select units feature private terraces. Planned amenities include a courtyard and garden, fitness center with yoga studio, business lounge, conference room, music room, rooftop lounge and co-working space. The property will also include 149 underground parking spaces.

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