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Shorewood Real Estate Group And Bogopa Enterprises Secure $130 Million Construction Loan For Multifamily Project
FINANCED
$130,000,000
New York
See Similar DealsMultiFamily
Financed 04/22/2026
FINANCED
Shorewood Real Estate Group And Bogopa Enterprises Secure $130 Million Construction Loan For Multifamily Project
350 Grand Concourse
See Similar DealsMultiFamily
Financed 04/22/2026
Summary
NEW YORK
Asset Type:MultiFamily
Transaction Type:Loan
The asset involved in the transaction is a multifamily property located at 350 Grand Concourse in the Mott Haven market. Shorewood Real Estate Group and Bogopa Enterprises are building The 360, which is a 13-story, 304-unit mixed-income residential project. The construction financing secured for this project amounts to $130 million from PCCP.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $130,000,000
- Lender: PCCP
- Landlord: Shorewood Real Estate Group & Bogopa Enterprises
- Brokers: Lauren Kaufman & Nicco Lupo - JLL
- Loan Type: Construction
Lauren Kaufman and Nicco Lupo of JLL arranged the construction financing for the project, ensuring the facilitation of funds necessary for the development of The 360 in the Bronx region.
Players
LENDER
LANDLORD
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$130,000,000.00
Monthly NOI$866,666.67
Monthly Debt Service$821,688.43
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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