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Bravo Property Trust closed a $36.75 million senior construction loan on March 17, 2025, for a planned 78-unit mixed-use rental development at 1861 Amsterdam Avenue in Upper Manhattan. The financing supports construction; it does not mean the building is complete or occupied.
What Bravo financed
Bravo Property Trust announced the loan as senior construction financing and described itself as an affiliate of Bravo Capital. Its announcement identifies a 78-unit mixed-use multifamily development on Amsterdam Avenue. Bravo Property Trust’s announcement gives the financing amount, announcement date and unit count.
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Trade publication Commercial Observer’s project report identifies the development as 1861 Amsterdam, at the corner of Amsterdam Avenue and West 152nd Street, on the former site of a medical office building. Bravo’s announcement and the trade report place it in Upper Manhattan.
What the planned development includes
Residential and affordable apartments
The project is planned to contain 78 apartments. Commercial Observer reports that 30% are designated affordable under the former 421-a tax-abatement program. That affordability detail is attributed to the trade report; it has not been independently verified against city records here.
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Commercial space and amenities
Commercial Observer reports that the commercial space was pre-leased to an urgent-care facility and pharmacy. The report also lists planned tenant amenities: a fitness center, tenant lounge, coworking space and rooftop deck. These are reported plans, not confirmation that the spaces or amenities have been delivered.
What the announcement does—and does not—establish
The loan announcement concerns project financing, not a construction completion or occupancy milestone. The available reporting does not establish when construction began, an expected delivery date, final rents, the final affordability breakdown or the project’s current construction or leasing status.
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Bravo’s company materials describe multifamily construction and bridge financing, but do not establish that this specific loan is HUD-insured. It should be described as a senior construction loan, not FHA-insured financing. See Bravo Capital’s financing services for the company’s general financing description.
Statements from the project’s financing and development teams
Aaron Krawitz, CEO of Bravo Capital and Bravo Property Trust, said the project aligned with the company’s strategy of financing “well-located, high-quality developments that add long-term value to the housing market.”
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Commercial Observer quoted Bravo Property Trust chairman Gabi Moshayev expressing “conviction in the strength of upper Manhattan for the long run.” Artifact Real Estate founder and CEO Javier Martinez said, “we look forward to bringing more much needed quality housing to the Harlem community.”
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Project facts at a glance
| Item | Reported detail |
|---|---|
| Lender | Bravo Property Trust, described in its announcement as an affiliate of Bravo Capital |
| Financing | $36.75 million senior construction loan, announced March 17, 2025 |
| Project | 1861 Amsterdam, a planned 78-unit mixed-use development |
| Location | Amsterdam Avenue at West 152nd Street, Upper Manhattan, according to Commercial Observer |
| Reported affordability | 30% of apartments designated affordable under the former 421-a program, according to Commercial Observer |
| Commercial tenants and amenities | Urgent-care facility and pharmacy reportedly pre-leased; planned fitness center, tenant lounge, coworking space and rooftop deck, according to Commercial Observer |
Bravo Capital’s transaction page also lists an “Amsterdam” financing for $36.75 million, but labels it Brooklyn. Because that location conflicts with Bravo’s announcement and Commercial Observer’s project reporting, the transaction-page label is not a reliable basis for locating this project. Transaction-page context.
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