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PCCP Provides $130 Million Senior Loan For Shorewood Real Estate Group's 304-Unit Development

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FINANCED
$130,000,000

New York

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Financed 05/13/2026
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Property Image
FINANCED

PCCP Provides $130 Million Senior Loan For Shorewood Real Estate Group's 304-Unit Development

350 Grand Concourse

See Similar Deals
Financed 05/13/2026
the dealplayerscompscontact
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Summary

NEW YORK
Transaction Type:Loan

350 Grand Concourse in the Bronx is a multi-family asset featuring 304 residential units and a grocery store covering 47,892 square feet. The property is currently under development by Shorewood Real Estate Group and Bogopa Enterprises, with Food Bazaar projected as the anchor tenant.

Summary of transaction details:

  • Property Type: MultiFamily
  • Transaction Amount: $130,000,000
  • Lender: PCCP
  • Landlord: Larry Davis - Shorewood Real Estate Group
  • Broker: JLL
  • Loan Type: Senior

The financing arrangement reflects a significant collaboration between PCCP and the developers, facilitating the realization of a substantial apartment development within the Mott Haven area. Larry Davis represents Shorewood Real Estate Group in this transaction, highlighting the involvement of key stakeholders in the project’s progression.

Players

JLL
JLL
BROKERAGE
PCCP
PCCP
LENDER
SG
Shorewood Real Estate Group
LANDLORD

Details

FINANCED
IMAGE: Larry Davis DATE: 05/13/2026 ADDRESS: 350 Grand Concourse MARKET: Bronx ASSET TYPE: MultiFamily ~ SF: 47,892 ~ UNITS: 304 LENDER: PCCP LANDLORD: Larry Davis - Shorewood Real Estate Group BROKER: JLL (@JLL) LOAN AMOUNT: $130,000,000 LOAN TYPE: Senior NOTE: PCCP has arranged $130 million in senior financing for The 360, a 304-unit apartment development with a 47,892-square-foot grocery store at 350 Grand Concourse in Mott Haven, being built by Shorewood Real Estate Group and Bogopa Enterprises with Food Bazaar slated as the anchor tenant.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$130,000,000.00

Monthly NOI$866,666.67
Monthly Debt Service$821,688.43
Change in Cash Flow$0.00
Refinance Proceeds$0.00