FHA-insured · 542(c) HFA risk-sharing
1490 Southern Blvd.
1490 Southern Blvd, Bronx, NY 10460 · 115 units
1490 Southern Blvd. carries a $14.7 million FHA-insured mortgage at a 5.575% note rate, endorsed by HUD on October 18, 2021 and maturing in October 2061. HUD's file put the amortized balance at $14,139,721 as of September 30, 2026, with 35 years 1 month left on the term. The loan is financed with tax-exempt bonds and paired with low-income housing tax credits.
4% repaid
Would a refinance lower the payment?
This loan's 5.575% rate is above the 5.54% median on HUD apartment loans endorsed in the 12 months before September 30, 2026. At that median, on the same balance and remaining term, principal and interest would run about $76,000 a month instead of about $77,000: roughly $4,000 a year less, before mortgage insurance, closing costs and any prepayment premium in the note.
This is a risk-sharing loan, which HUD does not allow to use a 223(a)(7). The usual route is a new 223(f) loan, sized on the property's current income.
Own this property?
Send it to the commercial mortgage team at Janover Capital LLC. Say whether you are assuming, refinancing or adding a supplemental loan, and we will give you a preliminary read on what a HUD lender is likely to need. Any terms come from the lender.
Janover Capital LLC is not HUD, FHA or the lender on this loan, and is not affiliated with or endorsed by either. The loan figures on this page come from HUD's public file and are not an offer of credit.
Other HUD-insured loans in Bronx
- Frances Schervier Apartments 155 units · 2.56% · matures 2051
- Boston Road Apartments 142 units · 2.57% · matures 2046
- Walton Ave Senior Housing 75 units · 2.65% · matures 2055
- Highbridge Concourse Phase I 460 units · 2.98% · matures 2050
- Highbridge Concourse Phase I 460 units · 2.98% · matures 2050
- Co-Op City 1537 units · 3.08% · matures 2057
- Notre Dame Apts 98 units · 3.34% · matures 2052
- St.barnabas Housing for the Elderly 91 units · 3.45% · matures 2048
Source: HUD, Insured Multifamily Mortgages, active file, current as of September 30, 2026. Street address from HUD's Insured Multifamily Properties map layer. Rates and balances are as HUD reports them; if HUD's file is wrong, this page is too. How we use the data.