- Co-founded in 2022 by Jeremy Levart and Mark Meisner, Oak Funding is a New Jersey-based real estate lending platform;
- The $21m note-on-note loan from OakNorth will be used to support the development of an eight-story, mixed use scheme in Crotona Park, South Bronx;
- Crotona Park’s residential population and renter occupancy levels continue to grow, highlighting the increasing demand for housing units.
New York, 24 July, 2025; OakNorth, the digital bank for entrepreneurs, by entrepreneurs, has provided an $21m note-on-note facility to returning customer and New Jersey-based real estate lending platform, Oak Funding.
Founded in 2022 by Jeremy Levart and Mark Meisner, the firm specializes in a wide array of real estate financing solutions, including both debt and equity strategies, for the U.S. commercial real estate sector. The firm’s lending platform prides itself on speed, flexibility, and confidence in deal execution.
The $21m note-on-note loan from OakNorth will be used to support the ground up development of an eight-story, mixed-use scheme in Crotona Park, South Bronx, New York. Located a short walk from 174th St Station and several MTA bus routes, the site will offer 99 multifamily units and 7.7k sq. ft of commercial space. Once complete, residents will be able to access a bike, laundry and recreation room, as well as shared rooftop terrace.
Jeremy Levart, Co-Founder of Oak Funding, commented on the transaction: “OakNorth has once again proven to be a responsive and thoughtful partner, bringing both credit expertise and practical flexibility to this transaction. This development exemplifies our mission of funding high-quality, community-focused residential projects, and we’re excited to deliver a vibrant new asset in Crotona Park with a trusted lending partner at our side.”
Max Saidman, Director of Debt Finance at OakNorth, added: “We’re proud to support Oak Funding and its highly experienced sponsorship team on this landmark development in the South Bronx. With strong fundamentals, a sponsor-led construction model, and attractive features, this project is well-positioned to deliver much-needed housing in a high-demand, transit-connected location. This deal builds on our existing relationship with Oak Funding and reflects our continued commitment to backing smart, impact-driven residential development across the U.S.”
ENDS
Notes to editors
About OakNorth
Launched in September 2015 and founded by entrepreneurs, OakNorth is a digital bank focused on serving and empowering the lower mid-market (businesses with £1m-£100m in turnover), that are seeking to scale but are routinely underserved or overlooked by traditional banks.
To date, it has provided $17bn to these businesses across a wide range of sectors, achieving performance metrics that place it amongst the top 1% of commercial banks globally. Its loans have directly contributed to the creation of 56,000 jobs, and over 34,000 new homes across the UK and the US – the majority of which are affordable and social housing.
It is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
Visit www.oaknorth.co.uk for more information.
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