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Bogopa Enterprises And Shorewood Real Estate Group Refinance Development Site In Mott Haven For $28.5M
FINANCED
$28,500,000
New York
See Similar DealsDevelopment Site
Financed
FINANCED
Bogopa Enterprises And Shorewood Real Estate Group Refinance Development Site In Mott Haven For $28.5M
350 Grand Concourse
See Similar DealsDevelopment Site
Financed
Summary
NEW YORK
Asset Type:Development Site
Transaction Type:Loan
A development site located at 350 Grand Concourse in Mott Haven, Bronx, has a building square footage of 187,222. The recent refinancing of this property was facilitated through a loan amount of $28,500,000.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $28,500,000
- Loan Type: Refinance
- Lender: PCCP
- Landlord: Bogopa Enterprises & Shorewood Real Estate Group
The refinancing transaction involved Bogopa Enterprises and Shorewood Real Estate Group, who replaced their prior debt of $20,000,000 with the new loan from PCCP. This strategic move underscores their commitment to the property development market in the Mott Haven area.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$28,500,000.00
Monthly NOI$190,000.00
Monthly Debt Service$180,139.39
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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