The Bergen Street Lofts at 304 Bergen Ave in Mott Haven scored a $9 million renovation loan from Amherst Capital, with leasing set to launch this June. The 65-unit project aims to boost the South Bronx rental market this month.

Amherst Capital, a backer known for Bronx multifamily deals, confirmed the $9 million loan to developer Hudson North Partners for a top-to-bottom overhaul of the Bergen Street Lofts at 304 Bergen Ave. Construction wraps this week, with fresh listings for studios through two-bedrooms hitting StreetEasy and local brokers’ windows by mid-June.

Hudson North’s principal, Amanda Rivera, said, “Mott Haven’s been waiting for solid, modern rental stock. We’re betting on the local market’s post-pandemic bounce.” Brokers with Casandra Properties are already tracking over 40 inquiries from Bronx-based tenants and Manhattan commuters looking to cross the Harlem River for more space.

The renovation brings new elevators, a shared roof deck, and a fitness center to the former warehouse, which last saw upgrades in 2008. Ground-floor retail space is slated for a neighborhood café—Rivera hints at a local operator, not another chain, with more details promised by July. Rents start at $2,400 for studios, undercutting much of Midtown and even parts of Astoria.

The move comes as Mott Haven draws new attention from renters and investors. Nearby sites on Alexander Ave and Lincoln Ave have seen new leases jump 15% since January, according to January Partners, a Bronx-based brokerage. Bergen Street Lofts expects to fill at least half its units by July 4th, backed by a social media and subway poster campaign targeting Bronx and uptown Manhattan zip codes.

Frequently Asked Questions

Where are the Bergen Street Lofts located and what’s new about them?

The Bergen Street Lofts are at 304 Bergen Ave in Mott Haven, South Bronx. They’ve just undergone a $9 million renovation, adding modern amenities like a roof deck, new elevators, and a fitness center. Leasing for 65 apartments begins in June 2024.

Who provided the financing for the renovation?

Amherst Capital, a firm active in New York City multifamily financing, provided the $9 million loan in April 2024. The developer is Hudson North Partners, led by Amanda Rivera.

What are the expected rents and target tenants?

Studios at Bergen Street Lofts start at $2,400 per month, with larger units priced accordingly. The project targets Bronx renters and Manhattan commuters seeking modern amenities at lower rents than Downtown or Queens. Leasing agents expect strong demand this summer.

Frequently Asked Questions

Where are the Bergen Street Lofts located?

The Bergen Street Lofts are located at 304 Bergen Ave in Mott Haven, South Bronx.

How much was invested in the Bergen Street Lofts renovation?

A $9 million renovation loan was secured from Amherst Capital in April 2024 for the project.

When does leasing begin for the renovated Bergen Street Lofts?

Leasing for the 65 upgraded apartments begins in June 2024.

What amenities were added during the Bergen Street Lofts renovation?

The renovation added a roof deck, new elevators, and a fitness center to the building.

What are the starting rents at Bergen Street Lofts?

Rents for studios at Bergen Street Lofts start at $2,400 per month.

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