SCG Capital Secures $22.8 Million Refinance Loan From Popular Bank For Development Site In Bronx

216 East 201st Street

$22,800,000

Building Size

—

Asset Type

Development Site

Closing

Jul 30, 2026

AI

The property asset involved in this transaction is a development site located at 216 East 201st Street in the Bedford Park neighborhood of the Bronx. The site has a building square footage of 49,090. A refinancing loan of $22,800,000 was secured for this property, replacing the prior lender, Icecap Group.

Summary of transation details:

Property Type: Development Site
Transaction Amount: $22,800,000
Loan Type: Refinance
Lender: Popular Bank
Landlord: SCG Capital
Market: Bedford Park, Bronx

The refinancing loan was facilitated by SCG Capital, which acts as the landlord for the property. This transaction marks a shift in financing, moving from Icecap Group to Popular Bank as the new lender.

Players

Popular BankLender

SCG CapitalLandlord

Lagrange 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

0.70%

Cash-on-Cash

-0.20%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93