Camber Property Group Secures $44.5M Construction Loan For Bronx Development Site
1850 Lafayette Avenue
$44,545,275
Building Size
—
Asset Type
Development Site
Closing
Dec 20, 2023
AI
The development site located at 1850 Lafayette Avenue in Soundview, Bronx has secured a $44.5 million construction loan from Enterprise Community Partners. The loan was obtained by Camber Property Group, under Stevenson Homeownership LLC, to support the development project.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $44,545,275
- Lender: Shaun Donovan - Enterprise Community Partners
- Landlord: Rick Gropper - Camber Property Group
- Loan Type: Construction
Shaun Donovan, representing Enterprise Community Partners, provided the $44.5 million loan for the construction of the development at 1850 Lafayette Avenue. The loan will support the efforts of Camber Property Group, represented by Rick Gropper, as they oversee the development project in Soundview, Bronx.
Players
Bronx Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.36%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93