Updated Jul 16, 2026
Catholic Homes New York Secures $146.9 Million Loan From NYS Housing Finance Agency For Development Site
484 East 178th Street
$146,900,000
Units
251
Asset Type
Development Site
Closing
Jun 30, 2026
About this deal
AI
A construction loan has been secured for a development site located at 484 East 178th Street in the Tremont neighborhood of Bronx. The loan totals $146.9 million, facilitating a planned residential development consisting of 251 units with a building square footage of 186,884.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $146,900,000
- Address: 484 East 178th Street
- Market: Tremont, Bronx
- Lender: NYS Housing Finance Agency
- Landlord: Catholic Homes New York
- Loan Type: Construction
The financing was organized by Catholic Homes New York, who is set to utilize the funds to advance their residential development project at the specified location. The lender involved in this significant transaction is the New York State Housing Finance Agency.
On the Map
$146,900,000
Development Site
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Players
Bronx Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.11%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93