Updated Oct 30, 2026
Indigo Developers Secures $15.2 Million Construction Loan From IceCap Group For Bronx Development Site
1925 Grand Concourse
$15,200,000
$219/SF
Building Size
69,163 SF
Asset Type
Development Site
Closing
Oct 6, 2026
About this deal
AI
The property involved is a development site located at 1925 Grand Concourse in the Mount Hope section of the Bronx. The asset covers an area of 69,163 square feet and is intended for the construction of a 96-unit residential building. Indigo Developers secured a construction loan amounting to $15,200,000 for this project.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $15,200,000
- Loan Type: Construction
- Lender: IceCap Group
- Landlord: Indigo Developers
Indigo Developers executed the loan through 1925 Grand Concourse NY LLC, facilitating the financing necessary for the construction of the planned residential building on the site.
On the Map
$15,200,000
$219/SF
Development Site
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Players
Bronx Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.04%
Cash-on-Cash
-0.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93