BridgeCity Capital Provides $24M Construction Loan For Land In Belmont Owned By Vijay Gogia
2481 Crotona Avenue, The Bronx, New York 10458, United States
$24,000,000
Units
84
Asset Type
—
Closing
May 12, 2022
About this deal
AI
The property involved in this transaction is located at 2481 Crotona Avenue in Belmont. The property is a land asset with a total of 84 units. The transaction took place on 12/05/2022 with a loan provided by BridgeCity Capital. The loan amount for the transaction was $24,000,000, and it was a construction loan. The landlord for this property is Vijay Gogia.
Summary of transaction details:
- Property Type: Land
- Transaction Amount: $24,000,000
- Address: 2481 Crotona Avenue
- Market: Belmont
- Units: 84
Vijay Gogia represented the landlord in this deal.
Players
Bronx CRE Market Snapshot
Boundary boundary · CRE · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.66%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93