BridgeCity Capital Provides $54M Construction Loan For 310 Grand Concourse Development Site In Mott Haven

310 Grand Concourse, located in the Mott Haven neighborhood of the Bronx, has recently secured a construction loan. The development site spans a total buildable square footage (BSF) of 135,000. Approved plans for the site include a fourteen-story building featuring 150 residential rental units, 3 commercial spaces, and 69 parking spaces.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $54,000,000
• Lender: BridgeCity Capital - Moishe Loketch, Louis Lebovits & Allan Lebovits
• Loan Type: Construction Loan

BridgeCity Capital, represented by Moishe Loketch, Louis Lebovits, and Allan Lebovits, is the lender behind this significant loan. The loan amount secured for the development project is $54,000,000. This financing will support the construction of the fourteen-story building, which is set to include 150 residential rental units, 3 commercial spaces, and 69 parking spaces. The project is located at 310 Grand Concourse in the thriving Mott Haven market.