Updated Sep 2, 2026
Leonard Bujaj And Gjin Gjini Secure $6.6 Million Loan For 29-unit Development In Bronx
2731 Kingsbridge Terrace
$6,600,000
$335/SF
Building Size
19,696 SF
Asset Type
Development Site
Closing
Aug 18, 2026
About this deal
AI
A development site located at 2731 Kingsbridge Terrace in Kingsbridge Heights, Bronx, has a total square footage of 19,696. This property has secured a construction loan amounting to $6,600,000 from Northeast Community Bank for the purpose of developing a 29-unit residential project.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $6,600,000
- Address: 2731 Kingsbridge Terrace
- Market: Kingsbridge Heights, Bronx
- Lender: Northeast Community Bank
- Landlord: Leonard Bujaj & Gjin Gjini
- Loan Type: Construction
Leonard Bujaj and Gjin Gjini are the key individuals involved in this transaction, representing the interests of the property in securing funding for the anticipated residential development. Their collaboration indicates a focus on expanding housing options in the Bronx area.
On the Map
$6,600,000
$335/SF
Development Site
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.40%
Cash-on-Cash
-0.69%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93