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Camber Property Group Secures $44.5M Construction Loan For Bronx Development Site
FINANCED
$44,545,275
New York
See Similar DealsDevelopment Site
Financed 12/20/2023
FINANCED
Camber Property Group Secures $44.5M Construction Loan For Bronx Development Site
1850 Lafayette Avenue
See Similar DealsDevelopment Site
Financed 12/20/2023
Summary
NEW YORK
Asset Type:Development Site
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$44,545,275.00
Monthly NOI$296,968.50
Monthly Debt Service$281,556.44
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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