Updated Oct 30, 2026
Andrea Gjini's AG Holding Group Secures $12.55M Construction Loan From IceCap Group In Bronx
220 Kimberly Place
$12,550,000
Units
65
Asset Type
Development Site
Closing
Oct 6, 2026
About this deal
AI
A construction loan has been secured for a planned development site located at 220 Kimberly Place in the Kingsbridge area of the Bronx. The asset type is designated as a development site, with a buildable square footage of 44,672. The loan amount is $12,550,000, which will be utilized for the construction of a 65-unit, 11-story residential building.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $12,550,000
- Address: 220 Kimberly Place
- Market: Kingsbridge, Bronx
- Lender: IceCap Group
- Landlord: Andrea Gjini - AG Holding Group
- Loan Type: Construction
Andrea Gjini's AG Holding Group is the entity responsible for securing the construction loan from IceCap Group. This will facilitate the development of the proposed residential building at the specified address, contributing to the area's growth and development.
On the Map
$12,550,000
Development Site
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Bronx Development Site Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.26%
Cash-on-Cash
-0.36%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93