Lionheart Provides $111.3M Construction Loan for New York Transit-Oriented Development

INSTITUTIONAL REAL ESTATE, INC.

Lionheart Strategic Management, an affiliate of Fisher Brothers, and Schroders Capital, the private assets division of Schroders, have provided a $111.3 million floating-rate construction loan for The Bridge, a nine-story, 101-unit luxury condominium development with 10,000 square feet of commercial and event space in Mineola, N.Y.

The approximately $130 million transit-oriented development is being developed by 212-214 Third Street Associates LLC and Mineola 212 LLC, an affiliate headed by Adam Mann of AJM Real Estate and Scott Burman of Burman Real Estate. The sponsorship group also includes Caiola Real Estate Group and Park It Management, forming an experienced development and investment partnership focused on creating value-add opportunities across retail, multifamily residential, healthcare, and mixed-use assets. Since its inception in 2024, Burman Real Estate has secured approximately $500 million of development activity across seven ventures.

“We are pleased to make our first investment on Long Island through The Bridge,” said Jake Misisco, director of investments, Lionheart Strategic Management. “Long Island remains one of the most compelling and complex markets to build in. We’re excited to have been able to identify an experienced sponsor in Burman Real Estate, who successfully navigated a robust approval process to advance a project that will deliver high-quality housing in a transit-oriented location.”

Paul Bratten, head of U.S. real estate investments for Schroders Capital, said: “This investment reflects our continued conviction in structurally supply-constrained, high-barrier-to-entry markets, supported by experienced local sponsorship, compelling fundamentals, and resilient end-user demand.”

Located within walking distance of the Mineola LIRR station, The Bridge will feature 101 luxury residences, ranging from one- to three-bedroom floorplans and a penthouse. Amenities will include on-site parking, a state-of-the-art fitness center, a rooftop terrace with cabanas, a pool and lounge area, a conference room, and communal lounges for residents. The project will also include a 10,000-square-foot multifunctional event space designed to host live entertainment, art exhibitions, fashion shows, and community events.