Updated Apr 30, 2026
Shorewood Real Estate Group & Bogopa Enterprises Secure $130 Million Construction Loan For 360 Grand Concourse
360 Grand Concourse
$130,000,000
Units
304
Asset Type
MultiFamily
Closing
Mar 2, 2026
About this deal
AI
The asset involved in this transaction is a multifamily property located at 360 Grand Concourse in the Mott Haven neighborhood of South Bronx, consisting of 304 units. A construction loan of $130,000,000 was secured to facilitate the development of this property.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $130,000,000
- Address: The 360 - 360 Grand Concourse
- Market: Mott Haven, South Bronx
- Lender: PCCP LLC
- Landlord: Shorewood Real Estate Group & Bogopa Enterprises
- Brokers: Lauren Kaufman & Nicco Lupo - JLL
- Loan Type: Construction
The key individuals in this transaction are Lauren Kaufman and Nicco Lupo, who represent the brokerage JLL. They played a crucial role in securing the financing for the project, which involves significant contributions from the landlord entities, Shorewood Real Estate Group and Bogopa Enterprises.
Players
Bronx MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.12%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93