Stagg Group Secures $136.8M Construction Loan From NYC Housing Development Corporation For Longwood Development Site

The Stagg Group, led by Mark Stagg, has secured a new construction loan valued at $136.8 million from the NYC Housing Development Corporation for the development project at 1001 Whitlock Avenue in Longwood, Bronx. The loan will be used to support the construction of the development on this development site, which spans 213,037 square feet.

Summary of Transaction Details

• Property Type: Development Site
• Transaction Amount: $136,806,337
• Address: 1001 Whitlock Avenue
• Market: Longwood, Bronx

This loan transaction marks an important step for the Stagg Group as they continue with their development project in Longwood, Bronx. They will work in conjunction with the NYC Housing Development Corporation as the lender for this project. As the landlord and developer, the Stagg Group, under the leadership of Mark Stagg, will oversee the construction process and ensure the successful completion of 1001 Whitlock Avenue.